It may be unusual when doing a macroeconomic analysis to anchor the world economy to demographic changes. However, it is on this very idea that Charles Goodhart and Manoj Pradhan’s book “The great demographic reversal” is based. In recent decades, the world demographic curve and the entry of China and Eastern European countries into the international trading system have profoundly influenced the world economy. The consequences have mainly manifested themselves in a generally low inflation rate and in the creation of substantial social inequalities. The trend, however, could undergo a rapid change due to demographic trends and a possible alteration of the idea of globalization that could emerge as a result of the pandemic we are experiencing. The consequences of this could manifest itself in runaway inflation, similar to post-war periods, and a decrease in disparities.