Forget economic forecasting for 2023, try planning for 2075.

Global population growth 50 years ago was around 2% per year.

It's now down to around 1% per year.

It is projected to fall to zero over the next 50 years.

That slowdown in the demographic picture presents a lot of economic challenges for economies

going forward,

and it is one of the factors that we expect

to drive the slowdown in global growth over time.

I'm Allison Nathan, and this is exchanges at Goldman Sachs. What long-term trends will shape the global economy?

What long-term trends will shape the global economy.

Which countries will power global growth in the decades to come?

And what does this mean for investors' portfolios?

For today's episode, I'm sitting down with my colleague Kevin Daly

to discuss his very long-term view on global growth.

Kevin is the co-head of the economics team covering Central and Eastern Europe, the Middle East, and Africa for Goldman Sachs research.

Kevin, welcome to the program.

Thank you, Allison.

It's a place to be here.

So Kevin, start by giving us some context

around this work on long-term growth,

which actually has had a pretty interesting history at Goldman Sachs.

So this all started a little over 20 years ago when former head of Economic Research, Jim O'Neill,

...