Over the last decades, the world’s population and its structure have changed quickly. The global population grew from 3 billion people in 1960 to over 7 billion people now. The median age of the world’s population increased from 23 years in 1960 to 29 years today and is expected to grow to 36 years in 2050. This change is even stronger and faster in industrialized countries. Germany and Japan are currently among the oldest nations in the world. Their median age grew from 1960 until now from 35 years to 44 years (Germany) and from 26 years to 45 years (Japan). While the baby-boomer generation fueled economic growth and prosperity, their transition to the retirement age creates problems.
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