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Ageing Population - When They Say 1 Billion Chinese People Can't Be Wrong... · Lisa & Russell

• 0:00
  Speaker 1: I do love it when Lisa digs up a statistic.
• 0:04
  Speaker 1: And this morning, statistics are flying everywhere.
• 0:06
  Speaker 2: This is really interesting. It's the first time ever in
• 0:10
  Speaker 2: recorded history the world now has more people 65 and
• 0:15
  Speaker 2: older than children under five. It's the first time, well,
• 0:19
  Speaker 2: in recorded history. A new census report shows this massive
• 0:22
  Speaker 2: shift is driven by falling birth rates and longer life
• 0:25
  Speaker 2: expectancies across the globe.
• 0:26
  Speaker 3: Yeah.
• 0:27
  Speaker 2: I mean, it might be in recorded history, but I
• 0:29
  Speaker 2: would suspect it's in history full stop because of those
• 0:32
  Speaker 2: longer life expectancies.
• 0:35
  Speaker 3: You go back about 300 years, not many people were
• 0:37
  Speaker 3: making it.
• 0:39
  Speaker 1: Yeah, exactly.
• 0:40
  Speaker 2: So in 2023, more than 71% of the global population
• 0:42
  Speaker 2: lived in countries where birth rates dropped below the necessary
• 0:45
  Speaker 2: replacement level. Major countries like China and India are seeing
• 0:50
  Speaker 2: huge declines in particular with China's fertility rate plummeting to
• 0:53
  Speaker 2: just 1.06 last year.
• 0:55
  Speaker 3: So, you know, by the end of this century, you
• 0:58
  Speaker 3: may have this statistic in front of you right now,
• 1:00
  Speaker 3: by 2100, which is what, only 75 years away, China's
• 1:04
  Speaker 3: population is going to be just over 600 million. What?
• 1:07
  Speaker 1: Just over 600 million. So if you want to know why.
• 1:10
  Speaker 2: So when you say a billion Chinese can't be wrong,
• 1:14
  Speaker 2: you're going to have to change that. Absolutely.
• 1:16
  Speaker 1: You're going to have to scale it right down. That's right. Yeah,
• 1:18
  Speaker 1: they're going to.
• 1:19
  Speaker 3: I mean, they're already in decline now quite significantly. But yes,
• 1:23
  Speaker 3: by the end of the century, they'll only be just
• 1:25
  Speaker 3: over 600. That's half, less than half of the population
• 1:28
  Speaker 3: there is now. So if you wonder why China's all
• 1:30
  Speaker 3: in on robots.
• 1:32
  Speaker 1: Someone's going to have to do the work for all
• 1:34
  Speaker 1: the oldies.
• 1:34
  Speaker 2: Well, that's right. Experts project the global number of older
• 1:38
  Speaker 2: adults will jump from 852 million in 2025 to 2
• 1:41
  Speaker 2: billion by the year 2060, which isn't that far away.
• 1:45
  Speaker 2: And this rapid demographic change means fewer younger workers, hence
• 1:50
  Speaker 2: the robots, will be available to support a growing wave
• 1:52
  Speaker 2: of retirees putting heavy strain on global health and pension systems. Yes.
• 1:56
  Speaker 2: As if they're not already under strain in other ways.
• 1:59
  Speaker 1: Well, they're going to be under even greater strain.
• 2:01
  Speaker 2: Oh. If it's not one thing, it's another.
• 2:03
  Speaker 3: Thank God we'll be gone by 2100.
• 2:05
  Speaker 2: You know what?
• 2:07
  Speaker 1: I'm with you. Oh, I don't want to live that long.
• 2:10
  Speaker 2: See ya.
• 2:10
  Speaker 1: Sounds like too much hard work. I don't want to.
• 2:13
  Speaker 1: You guys work it out. I don't want a robot.
• 2:15
  Speaker 1: It's amazing, though.
• 2:16
  Speaker 2: It's an amazing statistic.
• 2:18
  Speaker 1: And there's no stopping it. No. Because once it goes
• 2:21
  Speaker 1: over the hill, you can't stop it. There's not enough
• 2:23
  Speaker 1: boom boom in the world.
• 2:26
  Speaker 2: Not enough boom boom?
• 2:27
  Speaker 1: Yeah. People aren't having babies. You know what I'm saying?
• 2:30
  Speaker 3: Yeah. All right.
• 2:34
  Speaker 1: I'm just putting it in a nice way.
• 2:35
  Speaker 2: Yeah, I know.
• 2:36
  Speaker 1: Kids are off to school this morning. Don't want to
• 2:40
  Speaker 1: get too technical. I remember that song. Let's go back
• 2:43
  Speaker 1: to your room.
• 2:43
  Speaker 3: Yeah, that's right. Well, they're going to need to play
• 2:47
  Speaker 3: a whole lot more Paul the Carcass in India and
• 2:51
  Speaker 3: China and everywhere else around the world if they're going
• 2:55
  Speaker 3: to arrest this curve.
• 2:56
  Speaker 2: Okay.
• 2:57
  Speaker 1: And I don't even know if Paul the Carcass is
• 2:59
  Speaker 1: up to the job.