Working age populations in developed western countries are historically low when compared to the amount of elders they must sustain, and the ratios may be even worse in developed Asia. Furthermore, lately a lot of developing countries have been struggling with infrastructure and skill issues. Look at population pyramids. Or articles like https://www.reuters.com/markets/davos-2023-talent-shortage-rules-tight-labour-markets-manpowergroup-2023-01-20/

If you have the same number of mouths to feed but fewer prime-age workers relatively speaking, there are going to be issues unless you can convince the elders to retire overseas or in low-cost areas.