First off population decline isn’t necessarily a bad thing. If it was almost all old people who were unable to work/support themselves who died all at once as a one time event, it wouldn’t necessarily cause problems.
I think what you’re trying to ask is about declining birth rates. The issue is the old people I mentioned above who are unable to be productive or support themselves. Lower birth rates means fewer young/productive people to support the aged unproductive people, while also supporting themselves.
Also, since the world economy is based on continued growth, it greatly complicates how business and money would look going forward, since everything would be in decline big picture.
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