What will 2021 bring for the global economy? Projections from the United Nations (UN), International Monetary Fund (IMF), and World Trade Organization (WTO) say the following five things just might happen.
In 2021, the median human turn 31
The world is slowly getting older. Longer lifespans combined with falling fertility rates mean the world’s typical person gets a little older each year. In 2021, the global median is expected to hit 31 for the first time in recorded history, according to projections from the United Nations. An older world means a higher share of global spending on health care, and less on child care.
In 2021, Tanzania’s population will surpass Italy’s
For a good example of how the world’s population is shifting, look no further than Tanzania and Italy. From 1995 to 2020, Tanzania’s population more than doubled from 30 million to 60 million people. In 2021, the UN projects that Tanzania will become the world’s 23rd most populous country, surpassing Italy, where the population has begun to decline due to low birth rates. These countries represent