I think there are two trends missing:

1. Immigration. The global worker shortage will result in countries competing for workers. Many young people will move to the country that offers the best quality of life. Global wage discrepancies will disappear, and high-tax countries need to justify their high taxes by offering more services to workers.

2. Energy. While in the short run there's an Energy crisis especially in Europe, there is so much money being invested in research that sooner or later new technology will offer an abundance of energy. 20 years may be not enough to reach that state, but energy abundance will have an enormous impact on humanity and even the prospect of it will change thinking.