Nobel Laureate Sir Christopher A. Pissarides, also a professor in Economics at LSE, recently sat down with CGTN Anchor Guan Xin to discuss the pressing challenges and opportunities brought about by shifting global demographics. Pissarides shed light on the increasing trend of aging populations and declining birth rates, phenomena that are reshaping economies worldwide.
Addressing these demographic shifts requires innovative solutions. Pissarides highlighted the pivotal role of automation and artificial intelligence in transforming the workforce. By integrating AI technologies, industries can mitigate the impact of a shrinking labor pool and maintain economic productivity.
On the topic of job creation, Pissarides stressed the importance of fostering a robust market economy and expanding the services sector. He emphasized that removing market barriers is essential to facilitate trade and enterprise operations, thereby creating a conducive environment for job growth, particularly within the services industry.
Pissarides' insights underscore the need for strategic economic policies that leverage technology and open markets to navigate demographic challenges, ensuring sustainable growth and employment in the face of global population changes.
Reference(s):
cgtn.com
