The Great Demographic Reversal:Ageing Societies, Waning Inequality, and an Inflation Revival, a book by British economist Charles Goodhart and Manoj Pradhan, founder of the independent macroeconomic research firm Talking Heads Macro, was recently published in China by Beijing-based publisher CITIC Press Group.
With the seventh population census in China, birth rates and ageing have become popular topics, and people have increasingly realized the influence of demographic structure.
According to the authors, deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world's available labor supply, owing to very favorable demographic trends and the entry of China and Eastern Europe into the world's trade system. This book demonstrates how these demographic trends are on the cusp of a sharp reversal, coinciding with a retreat from globalization.
Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance.
