Fewer people of working age in all major economies means that robots, bots and robotic process automation are the vital keys to growth.
This still means a major disruption in current work for people and organisations. Job roles will change and you can forget a US. UK or European auto industry importing people as President Trump imagines. It will be robots.
But there will be opportunities if enterprises, governments and individuals are willing to make the changes to exploit the new technologies.
AS the PwC report clearly states for the UK
" PwC stressed that growth depended on the country “remaining open to talented people from around the world after Brexit”.
And for those complaining about globalisation and unfair trade:-
"It added that “developing successful trade and investment links with faster-growing emerging economies” were “critical” if UK growth were to outpace other advanced economies and offset “probable weaker trade links with the EU after Brexit”.
Heartening to see the rosy prospects for the UK and the necessity of good government and management by enterprises and public sector to exploit the opportunity.
But while the world is full of uncertainty, one trend is clear: populations around the world are ageing and there are fewer workers at the bottom to pay for the pensions of those retiring at the top. The outlook is bleaker among major advanced economies, which PwC expects to grow at a “markedly slower” average rate of 1.6pc per year between now and 2050, compared with the global average of 2.6pc per year. The weaker-than-expected recovery over the past few years does not bode well for the future, it says. The main driver of the slowdown is a downgrade of expected productivity growth in the US, with an ageing population, a “plateau of educational attainment”, and higher household and government borrowing all to blame.