Latest News:  

English>>Business

High-end manufacturing holds the key (2)

By Zheng Yangpeng  (China Daily)

15:49, June 07, 2013

An auto assembly plant in Qingzhou, Shandong province. China overtook the US as the world's biggest car market in 2010. [Wang Jilin / For China Daily]

Other risk factors for China include rising labor and land costs, the increasing competitiveness of other emerging markets, and a trend of relocating industries from developing countries to developed ones.

However, the decline in China's working-age population is something that most economists would not have anticipated as it comes three years ahead of the previous predictions made by the World Bank. The country's demographic dividend - when the largest section of society is of working age and the dependency ratio is low - has contributed to more than 30 percent of its rapid economic growth, an earlier World Bank report said.

In real terms, what the decline in working-age population means is that the endless supply of low-cost labor from China, which accounts for more than 11 percent of the world's exports, is no longer a reality, but a memory.

Wu Yu, a manager at a Suzhou-based factory, is one of several Chinese businessmen who have been affected by recent developments. Labor shortage and rising labor costs are the main challenges for Wu's company, a unit of the Taiwan-based computer maker Pegatron Corp.

Wu said that most of his employees were born after 1990 and work on average seven months before they seek fresh prospects with other companies.

"These youngsters are more ambitious and have bigger dreams than their parents. They want to explore the world and leave the job when they find it boring," he said.


【1】 【2】 【3】 【4】 【5】 【6】 【7】 【8】



We Recommend:

Ladies in finance industries

Fortune Global Forum to be held in Chengdu

Top 10 most competitive airlines in the world

General view of Hefei Xinqiao Int’l Airport

China FAW launches high-end car model H7

Top 10 most competitive cities in China in 2013

Boeing delivers China’s first 787 Dreamliner

Intelligent & beautiful Asian business women

Eye-catching models highlight house fair

Email|Print|Comments(Editor:WangXin、Chen Lidan)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. PLA Air Force in confrontation training

  2. U.S., Cambodian Air Forces in exercise

  3. Russian President Putin, wife divorce

  4. 2,000 cheongsam fans put on a show

  5. A drug addict's journey to new life

  6. 5 killed in central China rainstorms

  7. Sky-high zongzi displayed in Shanxi

  8. Kung Fu kicks ass in Hollywood

  9. China's cloud computing chain ready

  10. Top Wine China 2013 Expo kicks off in Beijing

Most Popular

Opinions

  1. Bloody conflict in Iraq should come to an end
  2. Law desiderated to protect interns' right
  3. China owes a huge debt to the environment
  4. China's middle class emerges, to spend more
  5. Xi-Obama meeting of milestone significance
  6. Violation of women's rights root of sexual assaults
  7. China not to tolerate rogue act on S. China Sea
  8. Imaginaion: essential for cultural confidence
  9. How ZTE is winning the US market
  10. Global IT and techno-jingoism

What’s happening in China

1 killed in SW China helicopter crash

  1. 5 killed in central China rainstorms
  2. Law seeks to regulate potable water dispensers
  3. Four nabbed for paying for blood donations
  4. Govt pushes for support of childless parents
  5. Policewoman wrongly detained as prostitute