February 4, 2013

China Nears Massive Jobs Crisis

Ambrose Evans-Pritchard, Daily Telegraph

AP Photo

The ageing crisis is well-known. It is already six years since a Chinese demographer shocked Davos with a warning that his country might have to resort to mass suicide in the end, shoving pensioners onto the ice. Less known is the parallel - and linked - labour drain in the countryside. A new IMF paper - “Chronicle of a Decline Foretold: Has China Reached the Lewis Turning Point?” - says the reserve army of peasants looking for work peaked in 2010 at around 150 million. The numbers are now collapsing.

Read Full Article ››

TAGGED: China

RECOMMENDED ARTICLES

January 31, 2013
The League of Authoritarian Gentlemen
Alexander Cooley, Foreign Policy
  For years now, the United States and its allies in Europe and Asia have been talking about the importance of common efforts to promote human rights and democratic values around the world. If the liberal democracies pooled... more ››
January 30, 2013
Does China Have a Pope Problem?
Francesco Sisci, Asia Times
The campaign for the election of the next pope has started in earnest, with all countries preparing for the transition - except China. The real possibility that the Vatican may seek to convert more Asian souls with the... more ››
January 31, 2013
Like the Balkans, Asia Primed for War
Kevin Rudd, Foreign Policy
These are no ordinary times in East Asia. With tensions rising from conflicting territorial claims in the East China and South China seas, the region increasingly resembles a 21st-century maritime redux of the Balkans a century... more ››
January 31, 2013
China's New Militancy
Gordon Chang, The Diplomat
Xi Jinping, named Communist Party general secretary in November, reflects a new militancy. On Tuesday, he delivered a hard-edged speech to the Politburo in which he effectively ruled out compromise on territorial and security... more ››
CHEAP Chinese labour makes the world go around. It supplies developed markets with cheap goods which, to some extent, make up for stagnating wages. It also keeps the Chinese economic model humming by providing the foundation for... more ››