The fact that goods and services production is shifting closer to buyers makes population ageing highly disadvantageous
For various reasons (shortening of value chains, rising production costs in emerging countries, growing local content requirements, desire to onshore the production of goods considered strategic: pharmaceuticals and medical equipment, equipment for renewable energies and telecoms), the production of goods and services is moving closer to their buyers. This means that productive capital is going to shift to the countries (regions) where domestic demand growth is expected to be strong . This trend is very negative for countries where population ageing is advanced and where the outlook is therefore for slower demand growth.