No one may yet be advocating it, but two recent reports from the IMF suggest one possible solution to many of the emerging world’s economic woes — mass migration from Africa to Asia.
The fund’s latest Asia Pacific regional economic outlook, released this month, warned that the continent was in danger of growing old before it becomes rich because of plunging birth rates. This threatens to leave it in far worse shape than the developed world, which at least became wealthy before the wrinkles set in.
In sharp contrast, a study of Africa, released in April, concluded that a key reason why the continent has been unable to copy Asia’s rise out of poverty is its “sluggish pace of demographic transition,” ie that its birth rate remains far too high.