The Severe Cost of the World's Baby Bust

The worldwide fertility rate has already dropped more than 50 per cent in the past 50 years, from 5.1 births per woman in 1964 to 2.4 in 2018, according to the World Bank. In 2020, the 20 per cent shortfall below replacement rate in US fertility, together with low net immigration, produced the lowest population growth on record of 0.35 per cent, below even the flu pandemic of 1918.

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