Wednesday, October 9, 2013

Young Chinese Don't Want to Work in Factories

Walter Russell Mead writes that young Chinese workers are no longer satisfied to work in low paying factory jobs--the primary driver of its economic growth. Instead, they want better paying jobs and a better quality of life. In other words, China's young workers are wanting to move forward into a more mature economy. The issue will be if China can provide those types of jobs, and weather the concomitant slowing of growth. However, this shift of economy would have been forced by demographic changes, in any event. By facing them early, China will be better able to manage its demographic cliff.

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