Demographics will reverse three multi-decade global trends

Between the 1980s and the 2000s, the largest ever positive labour supply shock occurred, resulting from demographic trends and from the inclusion of China and eastern Europe into the World Trade Organization. This led to a shift in manufacturing to Asia, especially China; a stagnation in real wages; a collapse in the power of private sector trade unions; increasing inequality within countries, but less inequality between countries; deflationary pressures; and falling interest rates. This shock is now reversing. As the world ages, real interest rates will rise, inflation and wage growth will pick up and inequality will fall. What is the biggest challenge to our thesis? The hardest prior trend to reverse will be that of low interest rates, which have resulted in a huge and persistent debt overhang, apart from some deleveraging in advanced economy banks. Future problems may now intensify as the demographic structure worsens, growth slows, and there is little stomach for major inflation. Are we in a trap where the debt overhang enforces continuing low interest rates, and those low interest rates encourage yet more debt finance? There is no silver bullet, but we recommend policy measures to switch from debt to equity finance

Additional file 6: Figure S4. of Pathologically decreased expression of miR-193a contributes to metastasis by targeting WT1-E-cadherin axis in non-small cell lung cancers

(A) A schematic representation of TGF-β1-induced inhibition of E-cadherin through miR-193a-WT1 axis. (B) A schematic demonstration of DNA hypermethylation of miR-193a in lung cancer cells. Hypermethylation of miR-193a leads to the low expression of miR-193a, which loses the ability to inhibit WT1 expression. High expression of WT1 contributes to EMT through decreasing the expression of E-cadherin. (TIF 13002 kb

Additional file 5: Figure S3. of Pathologically decreased expression of miR-193a contributes to metastasis by targeting WT1-E-cadherin axis in non-small cell lung cancers

(A) IF staining was performed for E-cadherin, fibronectin, and vimentin in H1299 cells treated with 10 ng/ml TGF-β1 for 3 days. (TIF 3869 kb