How to respond to population ageing in Europe?

Population ageing is proceeding apace in Europe, and the working-age population is now shrinking rapidly. There are two strategies for responding to population ageing: A strategy of investing in young countries that will enable Europe to benefit from the income generated by these investments; A European automation strategy that will maintain Europe’s production capacity despite the decline in the working-age population. For the moment, Europe has chosen the first strategy, investing its excess savings in the rest of the world. Is this the right choice? We do not believe so: This choice was made at a late stage; Europe has great potential to increase its productivity if it invests its savings domestically; if it invests them abroad, there will be a vicious circle of weakening productivity in Europe; The strategy of investing outside Europe will give rise to a problem of income redistribution (it is the profits of European companies investing abroad that will be increased); The decline in the working-age population in Europe can be offset by an immigration policy and a redefinition of family policies .