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 ...
Its why inflation is here to stay. American corporations have been sending jobs to China for 40 years to get cheaper crap to sell at Walmart and Target
China is a huge country, but its cheap labor is already maxed-out. Chinese farms and low-cost factories will increasingly look like Japan - none of these “one-child” princelings want to do hard manual labor.
It is absurd to think that a population has to be growing to be healthy. It amounts to thinking that pyramid schemes are a good thing for everyone. Obviously, in an economy that must grown to be “healthy”, the new, young workers are being burdened with the debt of the old workers.
They will end up spending their next 40 years, assembling Christmas lights in a sweatshop. After being spade or neutered.
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.
—————
Funny a Freeper said this exact same thing in another thread with unemployed people in the US to fill the 8.1 million jobs where there are no takers. Force them.
Send LeBrain James there again. Whatever he says will make their youths dumber. All in the interest of national security.
Unfortunately, that makes sense.
but there’s the current Huko caste system that keeps rural folks from gaining any sort of useful employment in cities (outside of factory-contained/housed employees). Rural peasants are largely left to their own survival, while at the same time sparkly cities provide all the pretty icing and perks that keep city dwellers pacified and loyal to govt control. Keeping the two groups separate is viewed as key to ‘harmony’ as two groups socializing together might start talking change of the type that would upend current social structure.
Thanks for the LOL to start the day.
Seriously, you can say what you want about China, but they don’t play with virtual signaling morons.
The “one child” policy facilitated China’s economic growth in the short term, as women who would otherwise have been taking care of children entered the work force.
Over the long term, they now have an unbalanced population.
Hence, the theory that COVID was released to kill off the elderly, and re-balance the population.
And good on them, we should learn as much.
This was my important takeaway from the article. Why does a country of 1.4 billion people need to import 286 million workers?
And all those one-child boys (and a few girls) want all the latest toys and Iphones and cars and etc. They are not willing to wait for this, one of their parents or grandparents will give it to them.
They do not want to work, nor do they want to serve in the military. It is becoming a very acute problem in China, and killing off the 80 year olds does not satisfy the military and factory need.
They might ‘find’ the labor in Africa, but you can bet they will not make the same mistake made by the West: they will NOT import that labor from Africa.
They might ‘find’ the labor in Africa, but you can bet they will not make the same mistake made by the West: they will NOT import that labor from Africa.
An average of 2.1 children per woman is considered replacement level in a country with modern medical care.
However, city dwellers may well consider having multiple children to be a financial burden which interferes with their desired lifestyle.
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.