Are you already worried about the shortage of labor and its rising costs in China? Zhang Juwei of the Chinese Academy of Social Sciences (CASS) tells Business Week the real labor problems are only developing after 2015.
The workforce—those from 15 to 64 years old—will plateau at almost 1 billion in 2015 and then start to shrink, figures the World Bank. These trends will help drive labor costs higher. “Over the next 10 years, this will become a serious problem,” says Zhang Juwei, deputy director of the Institute of Population and Labor Economics at the Chinese Academy of Social Sciences.
Do you want to hear more from one of China’s leading academics on its labor force? Zhang Juwei is a speaker at the China Speakers Bureau. When you need him at your meeting or conference, do get in touch.