This article is about exactly what the title would lead you to believe, China is losing its global labor advantage. The population of workers has dramatically decreased due to the family planning policy, which is the policy of having only one child. Where the work-age population was once 150 million, it is now somewhere around 20 million.
The article also discusses the importance of increasing demands and emphasis on education. Since the labor force has decreased, it is believed that another labor advantage. This advantage is believed to be in the form of higher education. Technology is the future, therefore, the more skills you have and more education you have, the more likely you are to succeed and make good money.
I agree with this article. I believe that education is the key to success and that in this economy, the higher education you have, the further you will go. Also, the population in China is very large, therefore, they have a lot of people to feed. In order to continue to do this, they need to have a skill, or edge, that makes them stick out above the rest in order to be chosen to complete certain tasks or for certain product-making factories to want to relocate there.
http://www.chinadaily.com.cn/bizchina/2009-09/10/content_8675882.htm
10-2-09
4:05 pm
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