Towards a world with permanently weak growth?

Global potential growth is declining and will continue to decline due to: Population ageing that is not accompanied by higher productivity gains - on the contrary , in fact - in Europe, Japan and China; The inability of India and Africa to take over for the other regions because of their structural problems: shortfall in savings and infrastructure, external debt, low level of labour force skills. If the problem is demography, productivity, infrastructures or education, there is no point trying to increase global growth by using demand-stimulating policies .