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At the moment progress is desperately trying to keep up with rapidly increasing life expectancy among the world's poorest, that's not a bad thing but that's also why we're seeing so much progress but we're not seeing the benefits much, in the developed world our life expectancy increased long ago and the result of all that progress has mostly normalized in our society and expectations, but we make up a very small percentage of the world's actual population. Now that it's their turn, there's a lot of people who aren't dying like they used to and as a result they don't just want food, they want lights and electricity and running water and roads and cars and phones and houses and opportunities, and on the whole we want to give them access to those things and bring them out of poverty but it's just a lot to do in only a few generations. Demographics get really wild when you start to understand their relationships to larger scale things like economics and world population, and these kind of demographic changes have serious consequences when applied across literally billions of people. It gets less depressing if you make a point of appreciating the very real progress that has been made to billions of peoples lives around the world. Yeah there's a lot of bad stuff going on, but we seem to prefer to talk about that and the actual, measurable good stuff doesn't get much acknowledgement.
Based on projections from demographics, most of the countries in the world should be in really good shape in about 50 years, population growth should level off, and we should be able to share the benefits of progress worldwide. At least if civilization hasn't collapsed into a new dark age, and we haven't turned the planet into an oven, nuked each other out of existence, written the Earth off and fucked off to Mars, or found some other creative way to destroy ourselves by then. So at least there's like a 0.1% things will work out alright.
I'm not sure how the demographic transition in developing countries relates to retirement age in rich countries.
Like I said, it's complicated, but to get a good sense of how the global economy has shifted, you only have to look at the explosive growth of the middle class in Asian economies, their steadily increasing life expectancies, and their growing importance to the west as trade partners (It's not just China and Taiwan despite the political rhetoric surrounding both).
That middle class growth is coming from money we in developed countries are spending every day, and have been spending for decades. We depend on Asian countries like Malaysia, Indonesia, Philippines, Vietnam especially significantly for technology and certain foods, but also for more mundane and often forgotten things like clothes and housewares and medicine. Thailand is one of the world's largest net exporters of pet food. We don't think of the things we use every day that come from other countries, but the fact is most of them do, and many of them we would not be pleased to have to accept any substitute or disruption for.
Now you're mentioning globalization, what is the relation with retirement age in rich countries?
That's a very interesting question, the first thing to understand is that only a relatively small number of countries worldwide even have a retirement age at all, many poor countries with shorter life expectancies are lacking even the basic social supports necessary and rely on family and community groups to support and care for people who become too elderly or infirm to work (at least we hope they do to some degree, life for the poor can be brutal) and this is often baked into the fabric of their society and culture in a way which is more determined by actual ability than an arbitrarily proscribed age.
However you're right, setting retirement ages is a tricky variable that often lags significantly behind the demographic realities, and this is particularly evident recently in Asian economies where they are now struggling with retirement ages far too low for most people's realistic working lifespan and are left with inadequate workforces and unsustainable pensions as a result. This is part of why their economies sometimes don't seem like they "doing so hot" to investors and stock markets despite the massive growth that has happened, and it is a sign that investors don't really see it continuing, and it's pretty plausible they're right. They still have a lot of work to do to properly transition into developed economies. They are the "new money", they are economically powerful and very resourceful in many ways, but in other ways this is all very new to them and they have their own challenges and struggles to figure out that are not going to be easy.
Retirement age in China for example was until recently only 50 for women in certain jobs. A comprehensive regional synopsis is difficult since the actual definition of retirement ages often varies according to a complex set of rules intended to gradually phase retirement ages in over time, or by year of birth, or by gender, or by specific industry, or many or all of the above, and another important data point that skews the picture of these numbers is that the concept of retirement itself paints a different picture depending on where you are, and we need to consider whether the actual government support or pension available to a retired person is in fact realistic and sufficient, or do they need to continue working in some form in order to have a basic standard of living, which is often the case, and is subject to many of the same complicating factors in how that amount is defined for different groups.
Despite all that said about the nuanced understanding needed to consider exact numbers, I think it's fair to say that the average retirement age in newer Asian economies still tends to be much lower than in the west, mostly averaging somewhere around 60, although it can be lower in some cases, with many western countries now pushing towards 70, but both are still trying to catch up to actual demographics and gradually increase those ages for the reasons I mentioned.