The whole world is on the way to doing this (Africa will, too, as they will develop… and, in a note of good news, probably become as economically powerful in the 22nd century as Asia is in the 21st). It’ll lead to a cratering of the working population unless we basically start to eliminate retirement (not desirable!) and enact a ton of pro-natalist policies now (in addition to as much immigration as possible).
A thing people don’t understand is that the biggest resource limit is people. Population decline won’t mean abundance but the exact opposite as the dependency ratio shoots through the roof and will be incredibly stubborn to come down (as to try to reverse it with pro-natalist policies will actually make it significantly worse for a couple decades), especially as willing migrants dry up (yes, I realize how counter-narrative that is, but it’ll happen… in the latter part of this century, Africa will become sick of being the cheap labor source of aging Europe and Asia).
The bigger questions are whether global warming or WW3 will fuck us all before we get there, not to mention the question of whether fully general AI will be its own mega disaster.