5 / 16  BIS central bankers' speeches  The role of FDI in supporting TFP growth is well known.9 By integrating local firms into global value chains, it facilitates the transfer of technology and expertise.
Notably, this year about 5 individuals are between the ages of 20 and 64 for each person aged 65 or older. By the time most of the baby boomers have retired in 2030, this ratio is projected to have declined to around 3.