Multilevel Marketing and The Rise of Anti MLM YouTube

For decades, multilevel-marketing companies had it easy. Cutco knives, Tupperware containers, and Pampered Chef bread mixes were inoffensive products sold at weeknight wine parties and, later, in themed Facebook groups. For the most part, they were an unremarkable part of women’s lives.

Multilevel marketing—a form of direct selling in which a major chunk of a person’s income comes not from the sales they make themselves but from the sales made by people they recruit into the company—was often regarded as exploitative by consumer advocates, but it rarely encountered a serious threat.

During the pandemic, distributors for many MLM companies have used this lack of pushback to their advantage: On Instagram and Facebook, women have tried to persuade their followers to use their stimulus checks to join a company that sells shampoo or weight-loss products. They have used economic collapse as a recruitment tool, offering MLMs as the solution to lost income and increased precarity.

For Heather Rainbow, a 20-year-old chemistry student, these appeals were a wake-up call. In May, she made her first anti-MLM TikTok video, green-screening herself in front of what she claims is the 2018 income-disclosure statement for the hair-care company Monat, which shows that 94 percent of its distributors had an average income of $183 that year. She now considers herself something of a consumer advocate and misinformation combatant, posting about companies such as Cutco, Younique, Arbonne, and Lipsense to her 113,00 followers.

“That was my first TikTok to really get views,” she told me. “I had no idea that people on TikTok would be so receptive to the anti-MLM message.” (I reached out to several of the companies named in this article, and most, including Monat, did not respond to my requests for comment. A spokesperson for Arbonne told me in an email that regulators “have recognized the legitimacy of multi-level marketing for decades.”)

The same social networks that multilevel-marketing distributors are called upon to exploit—their friends, their family, their followers, their “mutuals”—are now the social networks through which women are pushing out a completely different message. (Though men participate in multilevel marketing as well, they do so in much smaller numbers.)

On Reddit, Facebook, YouTube, and TikTok, a huge community has coalesced around the anti-MLM sentiment, bringing together disenchanted former salespeople, curious independent researchers, and thousands of women who are just tired of getting Facebook messages about selling essential oils.

#AntiMLM is still diffuse and disorganized, but its rise poses an existential threat to multilevel-marketing companies that rely on the constant recruitment of new participants. And its newfound popularity is already presenting challenges for the community, which critiques capitalism on commercial platforms: If criticizing multilevel marketing is a good way to get views and followers and personal attention, how long will it be before that becomes the reason to criticize multilevel marketing?

On the Reddit forum r/antiMLM, members mock the industry all day long, referring to distributors as “hunbots” who lead off every conversation with a faux-warm “Hey, hun.” There is plenty of anger and caustic humor, but the community is tightly checked by moderators who insist that all screenshots have names and identifying information obscured.

Self-promotion of any kind is entirely forbidden, as is commentary on the quality of MLM products, good or bad. Shaming victims is out of bounds, and nobody is painted as a dupe: “If the post does not highlight a core problem with the MLM business model, it does not belong here,” the rules warn.

The moderators restrict discussions that take away from the mission of the subreddit—to map out and dissect MLMs—and encourage conversation about the system over anecdotes about low-level bad actors. The first major gathering place for people who shared the anti-MLM sentiment, the forum was started in 2011, but had only 2,000 members before suddenly taking off in August 2017.

Now it has more than 680,000 members and serves as the hub for a growing, informed discontent. Rainbow, the TikTok creator, refers to the Reddit community as the “OG anti-MLMers,” and calls it “the heart of the movement,” responsible for most of the significant work….Read more…..

By Kaitlyn Tiffany

Source: Multilevel Marketing and the Rise of ‘Anti-MLM’ YouTube – The Atlantic

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Housing Market ‘Contagion’: Collapse Threatens Spillover Effects In These Major Industries

The housing risks for one retailer are “too big” to recommend investors to buy shares, one analyst ... [+]© 2021 Bloomberg Finance LP

As home sales tumble to the lowest level in years, a rash of industries tied to the housing market are starting to show signs of deterioration, with home builders, appliance makers and some retailers among those likely to take the biggest hit as experts worry the downturn could spark a broader recession.

In a Tuesday report, Bank of America noted the rate of wire payments to escrow and title companies—typically used to pay deposits for home sales—have fallen this year for the first time since the Covid recession in mid-2020, according to consumer spending data, adding to mounting signs of a housing market slowdown.

The impact has perhaps been felt most by home builders, who in August declared that the nation has fallen into a “housing recession” and have seen shares tumble more than 30% this year, according to the S&P Homebuilders Select Industry Index, which includes home-manufacturing giants such as Masco and Owens Corning; the broader S&P 500 has fallen 24%.

Bank of America notes the slowdown could also be a drag on consumer spending due to the impact on housing-related segments, most notably furniture spending, which has a “historically close” relationship with housing sales and has already fallen more than 10% year over year.

In past housing cycles, including the collapse that sparked the Great Recession more than a decade ago, furniture spending didn’t hit its low until a few months after home sales did, so Bank of America notes that further weakness could still lie ahead.

Others susceptible to the decline include appliance makers, in-home entertainment companies and consumer electronics firms including Best Buy, whose CEO last year pointed to the booming housing market as reason for better-than-expected sales on items like TVs and home theater setups.

Analysts aren’t yet convinced the housing-related fallout alone will trigger a recession, but the impact could be big: Harvard researchers have estimated the market’s effects have accounted for at least one quarter of the growth in personal consumption expenditures, which command a hefty 70% of the nation’s gross domestic product.

Though overall retail sales climbed in August, demand for items like furniture and electronics has fallen nearly 2% and 6% year over year—the only negative yearly changes among the types of businesses tracked by the Commerce Department, according to the latest data.

The one housing-related industry in which more consumers say they’ll spend more—instead of less—is home improvement, notes Bank of America. On Monday, R5 Capital analyst Scott Mushkin downgraded Lowe’s stock and said risks to the housing market are “too big” for him to recommend that investors buy shares, but other analysts, including Atlantic Equities’ Sam Hudson, note the post-Covid environment bodes well for home-improvement firms, particularly since fewer Americans buying homes may mean more people are likely to invest in their existing property.

The housing market continues to be one of the sectors hardest hit by the Fed’s rate hikes, and concerns that the downturn could spark a recession have only intensified as a result. With mortgage applications plummeting to their lowest level since 1997, some analysts predict the plunging demand will spark a correction in home prices. On Tuesday, the International Monetary Fund said the “potential contagion effect” of such a correction would likely be “more limited than in previous recessions,” but it noted risks are emerging elsewhere in the housing sector, especially in the United States, where more firms have started playing a role in the securitized mortgage market.

Source: Housing Market ‘Contagion’: Collapse Threatens Spillover Effects In These Major Industries

Critics by Jonathan Ponciano

Mortgage applications plummeted 14.2% from one week prior in the seven days ending Friday, pushing overall applications to their lowest level since 1997, according to data released Wednesday by the Mortgage Bankers Association. Surging rates have tacked on $337, or 15%, to the typical monthly mortgage payment over the past six weeks alone and pummeled housing demand nationwide as a result—so much that prices have started to slip from record highs in some markets over the past few weeks.

According to real estate brokerage Redfin, the median home sales price has climbed 7% to $369,250 over the past year, but prices in San Francisco have ticked down 4%, while those in neighboring Oakland and New Orleans have fallen 0.5% and 11%, respectively. Though he’s not expecting a nationwide correction, Tejas Joshi, a director at investment firm Yieldstreet, expects home prices could face 20% decline in some regional markets where new home construction will bolster supply— builders will be forced to slash prices “aggressively” in the coming months in areas like Dallas, Austin, Texas, and Boise, Idaho.

He also expects the correction will be worse for pandemic-era hot spots like Phoenix, Austin and Las Vegas that have seen an influx of new residents over the past two years, exacerbating affordability concerns that have made some markets—including a high concentration in the western U.S.—vulnerable to a housing market correction, according to Goldman Sachs. Goldman notes that 9% of active listings have cut prices on Zillow (mainly in areas that saw a sharp run-up in prices during the pandemic), which suggests that less affordable areas—such as Western cities like Seattle, San Diego and Los Angeles—are most susceptible to a correction, while more affordable metros in the South are likely better positioned to avoid one.

Goldman chief credit strategist Lotfi Karoui says national home prices will likely avoid a correction next year, but he expects 39% of metropolitan areas will experience price declines.“It’s important to remember that much of the housing market data . . . being reported are based on home purchases that were agreed to a month or more ago, when mortgage rates were a point and a half lower,” says Redfin economist Taylor Marr. “Sellers should anticipate that buyers are unwilling or unable to pay a price similar to what their neighbor’s home sold for a month ago.”

Other areas that may not face much of a housing price correction are those with low levels of new construction, says Joshi. He notes many markets in the Northeast, for example, have “quite low” incoming supply and that most sales come from existing homes, making it likely that homeowners will simply stay in place for longer as opposed to selling at lower prices.

.

Related contents:

September housing market uplift ‘subdued’: REINZ New Zealand Herald

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Recession Watch: ‘Very Concerning’ Sign Of Serious Economic Slowdown Emerges As Stock Market Collapses

"Sentiment is palpably horrible," says one analyst as more experts turn increasingly bearish on the ... [+]  AFP via Getty Images

A growing rash of economists are warning the odds of a recession have increased amid a historic inversion of the yield curve—a telltale sign of a looming economic slowdown after the Federal Reserve on Wednesday raised rates to the highest level since the Great Recession and signaled its policy would be more aggressive than previously anticipated.

Yields on the 10-year Treasury surged more than 10 basis points to nab a new 11 year-high of 3.829% on Friday, while the 2-year Treasury hit a 15-year record of 4.266%—deepening the yield curve inversion to some 50 basis points, the widest gap in more than 30 years.

Since July the yield curve has been inverted—when short-term yields fall below longer-term returns—in a sign investors are more bearish about the economy’s long-term prospects, and the inversion only deepened after the Fed on Wednesday raised rates by 75 basis points and suggested it may institute another unusually large hike again in November.

In a note to clients, analyst Tom Essaye of the Sevens Report explained the steepening inversion “makes sense” because a more aggressive Fed, and higher rates that make borrowing more expensive, will temper demand and stunt economic growth in hopes of reducing inflation, but he also warned the magnitude of the inversion has become “very concerning.”

A Federal Reserve study in 2018 found every recession in the past 60 years has been preceded by a yield curve inversion, and Essaye says the widening gap between 2-year and 10-year Treasurys is “screaming that a serious economic contraction is coming,” adding “everyone should be preparing” for a material economic slowdown in the coming months and quarters.

In a Friday note, Bank of America economists said they expect the economy will fall into a recession in the first half of next year, with real GDP falling 1% after adding 5% last year, and unemployment rising to 5.6%—potentially wiping out more than a year of job gains.

Fed officials doubled down on their most aggressive economic tightening campaign in three decades on Wednesday, raising interest rates by three-fourths of a percentage point for the third time in a row and pushing borrowing costs to 3.25%—the highest level since 2008. Though they had originally projected the federal funds rate would only climb to 3.4% this year, they now project it will climb to 4.4%, suggesting another 75 basis point hike could be on the table in November.

“With this new alignment between the Fed and markets, the questions now are when and how bad the recession will hit,” says Mace McCain, the chief investment officer of Frost Investment Advisors. Stocks plunged deeper into bear market territory after the Fed’s hawkish message, with major indexes eclipsing yearly lows on Friday. The S&P 500 is down 23% this year, and economists at Goldman project it will sink another 3% by December and could take more than a year to recover losses.

The tech-heavy Nasdaq has plummeted 32% since January, the Dow nearly 20%. “Looking out over the next one to two months, we don’t have much conviction at all on equities,” says Adam Crisafulli, founder of Vital Knowledge Media. “Sentiment is palpably horrible.” Existing home sales fell for the seventh straight month in August as rising interest rates continued to sideline potential home buyers, according to the National Association of Realtors.

In a statement, the association’s chief economist Lawrence Yun called the housing sector “most sensitive to” the Fed’s interest rate hikes and said the softness in home sales reflects this year’s escalating mortgage rates, which hit a 15-year high of nearly 6.3% this week—driving up the cost of monthly payments on new mortgages by more than 55%, an average of hundreds of dollars each month.

Despite pockets of the economy already reeling from the Fed’s hawkish policy, the job market remains firmly strong, effectively justifying the aggressive action. Initial jobless claims were little changed this week and continued claims actually edged lower. However, many experts say it’s inevitable that the labor market will soon start to cool. “It’s possible that the unemployment rate could gently glide higher and wages cool without an outright recession—but it’s never happened before,” says Bill Adams, chief economist for Comerica Bank.

Though it slowed for a second-month straight, inflation clocked in at a worse-than-expected 8.3% in August—far worse than the Fed’s long-standing target of 2%. Bank of America economists project inflation won’t return to that level until the end of 2024.

I’m a senior reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business

Source: Recession Watch: ‘Very Concerning’ Sign Of Serious Economic Slowdown Emerges As Stock Market Collapses

Critics by

Adam Tooze has a cult following among economists and historians alike. The famed English economic historian, once hailed by New York Magazine as “impeccably credentialed, improbably charming”, is in Australia after speaking at Sydney’s Festival of Dangerous Ideas.

The decision by the US Federal Reserve to raise its key interest rate by another 75 basis points this week, and its plans for further increases, have raised the spectre of a global economic slowdown. Overnight, the Bank of England lifted its key rate by 0.5%, matching Indonesia and the Philippines, while the Swiss National Bank and South Africa opted for a 0.75 percentage point rise.

Tooze, a history professor at New York’s Columbia University and a frequent contributor to the Guardian, has detailed the gathering economic headwinds and has analysed for Guardian Australia the key areas of the current financial turmoil.

‘Extremely severe’ recession risk

The chances of a global recession were now “extremely severe”, as central banks in many parts of the world raise interest rates to curb inflation. “It’s the single most dramatic simultaneous tightening of monetary policy ever,” Tooze said. The winding back of Covid support packages by governments as the pandemic tide recedes also meant fiscal brakes were being tapped.

“US fiscal policy right now is massively contractionary,” Tooze said. “It’s a 4.5% of GDP negative drag.”

Textbook moment of ‘failed technocracy’

Tooze predicted the current policies of central banks and governments would be marked in future textbooks as a “classic moment of failed technocracy”. The US Fed Reserve lifted its cash rate target range by 75bp to 3% to 3.25% on Wednesday, US time. It also indicated it expected increases of as much as another 125bp this year even as Fed chairman Jerome Powell warned of a possible recession.

Tooze said other central banks will be under pressure to follow. Australia’s Reserve Bank governor, Philip Lowe, said last week the bank would probably lift its cash rate 25bp or 50bp on 4 October, making it a record six increases in as many months. The lives of 100s of millions of people and their employment prospects would be scarred by a recession, Tooze said: “This will mark those people’s lives for the rest of their lives.”

Australian fallout

Private economists forecast Australian property price falls of as much as 20%, the steepest decline since the 1980s as rates rise. Tooze said Australia and Canada had two of the “most overheated” property markets in the world, and he predicted “huge effects” from higher borrowing costs.

One source of support for the market might also be less forthcoming in the future. The surge in both Chinese students and property buying in Australia, US and elsewhere, had partly been a “capital flight story”, he says. Buying a flat to provide accommodation while studying was one way to get money out of China.

Signs have lately been mounting of a renewed effort by Chinese to move money abroad ahead of a major Chinese Communist party meeting in Beijing next month that will formally extend the leadership of President Xi Jinping. To counter that capital flight, authorities are making it harder for people “beyond certain networks” to access passports, Tooze said. “It’s really quite difficult now for the Chinese to discreetly exit.”

China worries

The RBA deputy governor, Michele Bullock, on Wednesday described the global economy as being “on a bit of a knife-edge”. One reason was the fragile state of China’s economy. Its Covid-zero policy disrupted supply chains and a plunging property market had “still not worked itself out”, she said. Demand for Australian iron ore, in particular, hinged on the success of government efforts to support real estate.

The Chinese property bubble is not just any property bubble – it’s the largest single phase of accumulation of wealth in economic history,” Tooze said, noting the number of private property owners had jumped from near zero to 300 million in a few decades. “They poured more concrete in three years [in the early 2010s] than the United States in all of the 20th century,” he said. The Chinese government may yet stabilise the market.

“The amazing thing is that big money in the west is taking a huge gamble on the capacity of an authoritarian regime unfettered by the rule of law to pull off the largest single exercise in macro-prudential, macro-financial stabilisation the world has ever seen,” Tooze said. Assuming they can do that, BHP, Rio Tinto and Fortescue – and a large part of the Australian economy – “are all fine”.

One cause for optimism

Tooze said the “extraordinary progress” in cutting the cost of solar and wind energy was a “real case for optimism”, at least as far as action to limit global heating was concerned. “The disappointment is we could be even further down those cost curves” if the US and Europe and elsewhere had matched China’s investment. Improving battery technology would be “fundamental” to advancing decarbonisation efforts because of the intermittency of renewables.

He cited data from the International Energy Agency on total public funded energy research – totalling $US23bn ($A35bn) in 2021 – as proof we can do more. “If we were serious about the energy transition,” he said, “you’d think we would be collectively spending more than what Americans spend [each year] just on treats and food for their dogs and cats”.

.

Related contents:

China’s Economic Recovery Faces Fresh Risks From Global Slowdown BNN Bloomberg

Institutional strengths emerge in China’s fight against COVID-19, economic slowdown China.org.cn

Microsoft plans to add 1,000 jobs in China despite economic slowdown in the country PingWest

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Economic forecast: marked slowdown on the horizon Swiss Government (Press Release)
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The Housing Market Collapse Deepens As Fed Officials Warn ‘Economy Will Slow’

Cooling inflation has helped temper concerns of an imminent recession, particularly as the job market continues to show historic strength, but a worsening housing market collapse and vast uncertainty over the course of the Federal Reserve’s interest hikes have many experts, including policy officials, warning that it’s still too early to know just how difficult this economic downturn will end up being.

“It does not feel like a recession now,” Minneapolis Fed President Neel Kashkari, one of the 12 central bankers who vote on changes to Fed policy, said in a public appearance on Thursday, noting that the labor market remains very strong, wages are rising and consumer demand remains resilient.

Though acknowledging the economy’s strength, which comes as inflation begins to show signs of slowing, Kashkari was also cautious, asking, “…can we continue to bring inflation down without triggering a recession?” and then answering, “I don’t know.”

He noted the Fed needs to temper still-high inflation “urgently” and pledged to continue hiking interest rates to help cool demand, and then warned the economy will “continue to slow as officials continue raising rates, making a recession more likely.”

The cautious statements came after home builders and realtors declared a recession in the housing market this week, as higher home prices and mortgage rates continued to sideline potential buyers and push demand to the lowest level since the turn of the century.

The Atlanta Fed cut its projections for third-quarter economic growth from 2.5% to 1.8% on Tuesday after data showing housing starts unexpectedly plunged 9.6% last month to the lowest level in more than a year, with experts blaming the worsening sentiment on rising mortgage rates.

Economists at Goldman Sachs are also worried it will be difficult to avoid a recession as the Fed works to combat inflation, saying on Tuesday that officials are “off to a good start but [have] a long way to go”; on Monday, Moody’s Analytics put the odds of a recession over the next year at 50%.

Higher interest rates are having a brutal effect on the housing market, driving up the cost of home-buying by hundreds of dollars each month and pummeling demand as a result. Existing home sales have plunged nearly 30% from a January high. Meanwhile, home prices are still skyrocketing and making affordability even worse. “We’re witnessing a housing recession in terms of declining home sales and home building; however, it’s not a recession in home prices,” National Association of Realtors economist Lawrence Yun said Thursday.

He is noting the median existing home price has fallen to $403,800 from a record high in June but is still up nearly 11% from one year ago.Consumer prices rose 8.5% in the 12 months ending in July—slowing down for the first time in months and fueling hopes the Fed’s efforts to cool inflation may finally be working. After an unprecedented surge in gas prices, inflation hit a 40-year high of 9.1% in June.

The Fed raised interest rates by another 75 basis points at its latest policy meeting in July, as officials discussed “unacceptably high inflation” and acknowledged economic growth will be “noticeably weaker” than they believed one month ago. Thus far, the central bank has hiked interest rates by 2.25 percentage points this year. Goldman says the majority of hikes are behind us in this tightening cycle and predicts only a 50-basis-point rate hike in September and 25-basis-point increases in November and December. However, that’s contingent on inflation coming down.

After a blockbuster jobs report, which showed the economy added more than half a million jobs in July, unemployment claims fell again this week, reflecting ongoing strength in the labor market despite waves of layoffs among some giant corporations. Average hourly wages, meanwhile, have jumped more than expected, climbing 5% in July to $32.27—the highest on record. “Any loosening in the labor market is marginal,” says Pantheon Macro chief economist Ian Shepherdson, citing the better-than-expected data. “There’s no recession here.”

Stocks have struggled to find direction after rallying more than 15% since the Fed’s rate hike in June when many investors concluded the worst of the increases may be over. However, the S&P 500 is still down 12% this year, compared to a 21% gain in 2021. Bank of America has warned slower-than-expected economic growth could tank stocks further, and if inflation isn’t tamed, more aggressive Fed policy would surely rock markets again.

I’m a senior reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill

Source: Recession Watch: It Doesn’t Seem Imminent—But The Housing Market Collapse Deepens As Fed Officials Warn ‘Economy Will Slow’

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For World Population Day, a Look at The Countries With The Biggest Projected Gains  and Losses By 2100

A United Nations projection estimates that 19 of the 20 countries estimated to faced the biggest population decline are in the Eastern hemisphere.

Key Takeaways

  • Cuba is the only country from the Western hemisphere in the top 20 countries expected to have a population decline over the next few decades. Indicators that support these claims include very low immigration rate (0.1 percent of total population) and fertility rate (1.7 children per woman), which is among the lowest in Latin America.
  • Three countries are expected to see their populations decline by more than 20 percent between 2020 and 2050: Bulgaria, Lithuania and Latvia.
  • Visual Capitalist also points out that Japan is an outlier from Asia. Japan’s birth rates have fallen since 1970 and its population began shrinking a decade ago. Last year there were 811,604 babies born in Japan and 1.44 million deaths.

Visualizing Population Decline by Country

Since the mid-1900s, the global population has followed a steep upwards trajectory.

While much of this growth has been concentrated in China and India, researchers expect the next wave of growth to occur in Africa. As of 2019, for example, the average woman in Niger is having over six children in her lifetime.

At the opposite end of this spectrum are a number of countries that appear to be shrinking from a population perspective. To shed some light on this somewhat surprising trend, we’ve visualized the top 20 countries by population decline.

The Top 20

The following table ranks countries by their rate of population decline, based on projected rate of change between 2020 and 2050 and using data from the United Nations.

Many of these countries are located in or near Eastern Europe, for reasons we’ll discuss below.

The first issue is birth rates, which according to the Peterson Institute for International Economics (PIIE), have fallen since the collapse of the Soviet Union. Across the region, the average number of children per woman fell from 2.1 in 1988 to 1.2 by 1998.

Birth rates have recovered slightly since then, but are not enough to offset deaths and emigration, which refers to citizens leaving their country to live elsewhere.

Eastern Europe saw several waves of emigration following the European Union’s (EU) border expansions in 2004 and 2007. The PIIE reports that by 2016, 6.3 million Eastern Europeans resided in other EU states.

The Outliers

There are two geographical outliers in this dataset which sit on either side of Europe.

Japan

The first is Japan, where birth rates have fallen continuously since 1970. It wasn’t until 2010, however, that the country’s overall population began to shrink.

By the numbers, the situation appears dire. In 2021, 811,604 babies were born in Japan, while 1.44 million people died. As a result of its low birth rates, the island nation also has the world’s highest average age at 49 years old.

The Japanese government has introduced various social programs to make having kids more appealing, but these don’t appear to be getting to the root of the problem. For deeper insight into Japan’s low birthrates, it’s worth reading this article by The Atlantic.

Cuba

The second country is Cuba, and it’s the only one not located within the Eastern Hemisphere. Cuba’s fertility rate of 1.7 children per woman is the lowest in the Latin American region. It can be compared to countries like Mexico (2.2), Paraguay (2.5), and Guatemala (3.0).

Cuba’s immigration is also incredibly low compared to its neighboring countries. According to the International Organization for Migration, immigrants account for just 0.1% of its total population.

Four of the 10 most populous countries in the world will no longer be among the top 10 in 2100 – and all four will be supplanted by rapidly growing nations in Africa, according to recently released population projections from the United Nations.

Brazil, Bangladesh, Russia and Mexico are among the world’s 10 most populous countries today. By 2100, they are projected to be overtaken by the Democratic Republic of the Congo, Ethiopia, Tanzania and Egypt – none of which are currently in the top 10.

This changing of the guard is expected to occur because of sluggish population growth over the next eight decades in Mexico (+10% by 2100) and population losses in Brazil (-15%), Bangladesh (-8%) and Russia (-14%). Each of the four African countries, by contrast, is expected to more than double in population, with increases of 304% in the Democratic Republic of the Congo, 156% in Ethiopia, 378% in Tanzania and 120% in Egypt.

Source: https://www.visualcapitalist.com

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