Posted on 05/20/2021 8:22:53 PM PDT by SeekAndFind
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.
According to the seventh national census released by Chinese authorities, China’s prime workforce population is decreasing. People aged 15 to 59, accounting for 63 percent of the total population, decreased by 7 percentage points from a decade ago. While another 18 percent of the total population, people aged 60 or above, increased by 5 percentage points from a decade ago.
Ren Zeping, chief economist at Soochow Securities, said that the census results indicate China’s population is aging at an unprecedented speed and scale, with the country’s baby boomers—born between 1962 and 1976—stepping out of the labor market at an accelerated pace. China’s economy greatly enjoyed the additional demographic in the past. However, that same age group (60 and above) will retire in the near future.
China had 286 million migrant workers in 2020, 5 million less than the previous year, according to the Report on Monitoring and Investigation of Migrant Workers released by the regime’s Bureau of Statistics in 2020. Among them, migrant workers in manufacturing jobs accounted for 27 percent.
Statistical data showed that from 2008 to 2018, the number of migrant workers in China’s manufacturing jobs declined at an average annual rate of 2.8 percent.
Ren said in the next five years, China will not only face problems of an aging population, fewer children in each household, and young people not getting married, but will also have negative population growth. This is one of the biggest dangers affecting China’s economic and social development.
(Excerpt) Read more at theepochtimes.com ...
Hence, the main reason for creation of covid. To kill off all their 80 year olds.
Not having kids causes economic stagnation.
RE: Not having kids causes economic stagnation.
But China has recently changed their policy to allow TWO CHILDREN per family.
China may decide to “find” labour in Africa.
“analysts expressed concerns that China’s status as the “world’s factory” may end within a year.”
Within a year? Chinese manufacturing output is $4 trillion a year. US is number two at $2.3 trillion. Unless they are predicting nuclear war China is remaining #1 for a while longer.
With its workforce aging and the balance of economic power shifting away from it and, at the same time, an abnormally large number of single males of military age, and an incredibly weak US President, my analysis of all of this is that China’s leaders are undoubtedly planning a short, very violent, military action that will permanently (meaning for many years or decades) shift the economic balance back to it. Taiwan is undoubtedly going to be the target, and the objective of invading it will not only be to capture it (for the sake of pride, and to break the chain of island bases that the West has surrounding it), but also to break the prestige (what little is left) of the US.
When will this occur? Only God (and perhaps Xi and his top leaders) know the exact date, but I would guesstimate that it will be sometime this summer so that the operation will be done by the late fall except for mopping up. They will have to have our attention diverted and the country even more split than it is now, in order to avoid a unified and effective response. They would undoubtedly hope that the strike was so sudden and successful that it would be a fait accompli.
Whether they would succeed or not is a wholly different matter - but calculations based on one’s own perceived weakness in the future, plus the perception of a presently weak-willed enemy, is the combination that has started a lot of wars.
Note that today or yesterday the guy in charge of Singapore was warning that a war between us and China due to miscalculation was very possible, and that it would (of course) be incredibly destructive.
Industrialism is the past. Financial markets are the future. Especially since the Chinese are coming out with their own digital currency.
There'll be plenty of jobs for paper pushers and data entry specialists in the financial industry. These jobs will provide high salaries so workers can afford to purchase beautiful homes in the ever-expanding housing market in China.
So long as the markets are free (at least economically if not socially, politically, or religiously) then China has a very bright future.
They need to get David Frum over there, and if they're lucky, George Gilder.
Of course they already have the latest/greatest from their spies in the US and their friends the Clintons.
But now they'll be able to show how they know how our stuff works without implicating their US spies.
Even though the Chinese Belt and Road policy has been in effect in Africa for years, the libtards haven't seemed to take note of the outright in-the-open colonialism that China is visiting upon their brothers and sisters.
china is ALREADY doing what Rome(and MANY other civilizations) did, turn to “slave labor”. Hell... so is this country, except more creative (H1B visa, “outsourcing”, unbridled illegal immigration...) The outcome for EVERY civilization that has followed this path is the same. EXTINCTION.
Once a society is used to no children, allowing them more than one is not going to convince them to follow through.
Russia hasn’t recovered its love for children and it has been thirty years since the end of communism for them.
China may decide to “find” labour in Africa.
Willing or not I would think.
Now,take David Frum.
Please!
Robots. And even the Chinese outsource to Cambodia and African nations.
And too few are interested—thus incentives.
I don’t think any country would ever consider this after studying America history and social studies for just one hour.
If the Red Chinese Communist dictatorship needs “X” number of young people to work in the industries/jobs, they will find them or draft them.
Remember this is a complete communist dictatorship where the secret police and the Army will do whatever the CCCP orders (look at Tiannamen Square and the Uighars/Hong Kong).
This is called “guaranteed employment” in Communist terms.
We could send a team of ACLU lawyers to help explain things.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.