Japan and Korea are both further along the path, and moving more quickly. But yes, much of the EU is still on the same path, and the time to effectively mitigate the issue will come and go before most people notice. This is a problem that always has consequences out many decades from current actions, a timeline just too far along for our hunter-gatherer brains to care much about. It will take much longer to be in a real bind, but by the time it happens it is far too late to right the ship.

It is, but not as bad. The EU's birth rate is higher than Japan's, and the EU is much more immigrant-friendly - and if that makes you suck in air through your teeth, let me clarify - that's a relative estimation. SK and Japan are... infamously hostile towards immigration.