Create better pathways for legal immigration and make life in modern society less dystopic so that people actually want and can financially afford to reproduce.
Futurology
When population declines enough, population will go back up.
Population decline isn't a bad thing. The Black Plague, WW1, WW2. All were more severe population declines and the result was improved lives for everyone.
Fix global warming. Fix political polarization, bigotry, hate, etc. The economy isn’t the only reason this generation is holding back from bringing children into the picture.
Any way, maybe a smaller population on our limited resource rock ain’t too bad an idea?
Not. Thats it. Ignore it.
I agree we should let our populations decline, but it still needs to be a managed process. That's how they should respond; manage the declining population in ways that minimize human suffering.
No Management. Management means some rich guys trying to control that for cheap labor.
How about enabling young couples to actually afford raising children?
Corporations are going to want the cheapest possible solution, so immigration is far more likely.