Tyler Cowen (GMU economist) pointed out that the labour crunch could be solved in the short-run by increasing retirement age to 68.
That said, demographics are already proving to be a problem in countries in the West and East Asia that have hit that technology/education efficiency margin. Japan, USA, all of Europe, and Canada will see increasing labour crunches, tax burdens, and most likely, overall stagnation. This is a huge problem. Maybe the biggest one facing the developed economies.
China is desperate as they don't have close to the wealth levels that have been obtained other places, and have mostly relied on a cheap, renewable source of labour.
Robots will save us? Maybe?
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