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Home / India News / 2007 / May 2007 / May 12, 2007
China might face a shortage of labour from 2010
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China might face a shortage of labour from 2010

China might face a shortage of labour from 2010, a report has warned, adding that one of the biggest reasons for this could be that the rural labour force may not be as large as previously thought.

New Delhi, May 12 : China might face a shortage of labour from 2010, a report has warned, adding that one of the biggest reasons for this could be that the rural labour force may not be as large as previously thought.

The China Daily quotes the Chinese Academy of Social Sciences report as saying that "China is moving from an era of labour surplus into an era of labour shortage."

Experts believe the turning point, when the new labour force will fail to meet demand, could be as close as three years. This will trigger a general increase in wages, the report says.

China's status as the world's most populous country gives it plenty of reasons to closely monitor demographic shifts that could significantly impact its course of development. "Rising labour costs will pose the question: how long can China rely on its "population bonus. Some foreign investors have already moved their businesses to countries with lower labour costs," said Wang Yiming, Deputy Director of the Academy of Macroeconomic Research, which falls under the National Development and Research Commission.

The Chinese Ministry of Labour and Social Security has also expressed fears that a further appreciation of the Yuan will result in millions of jobs being lost.

"The country needs to change its growth mode from relying solely on one production factor (labour) to advancing production methods," said Cai Fang, Director of the Institute of Population and Labour Economics, and the report's leading draftsman.

The number of redundant workers below the age of 40 in rural areas is only about 52 million in absolute terms, far less than the estimated 100-150 million, added Cai.

ANI

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