Commentary The Middle Kingdom’s population is aging. It has fewer young people to replace the retiring older generation, the one that manned the machinery of China’s huge advances since Deng Xiaoping abandoned Mao Zedong’s economic model. This demographic challenge presents China’s economy with a huge challenge. The problem is one of Beijing’s own making. It…
China’s Rapidly Shrinking Workforce Will Shake Up Its Status as the World Factory
China’s labor market is undergoing structural changes, with a shrinking labor force and rising labor costs. Young people are reluctant to enter factories, and the international labor market is shifting to Southeast Asia and other places. Some analysts expressed concerns that China’s status as the “world’s factory” may end within a year.
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