Openness to boost trade, FDI, spending chinadaily.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadaily.com.cn Daily Mail and Mail on Sunday newspapers.
There are two ways to address this. One way is to relax the birth control, something (that) will help on the margin, but even if they fully relax the control (it s) probably difficult to reverse the trend, said Zhiwei Zhang, chief economist at Pinpoint Asset Management. The other way to deal with it, from an economic policy perspective, is to make industry more dependent on other sectors, he said.
China s economy has relied heavily on industries such as manufacturing that require large amounts of cheap labor. But rising wages are making Chinese factories less attractive, while workers will need higher skills to help the country become more innovative.
Authorities have recently rolled back the one-child policy. But economists say other changes are needed for boosting growth as China’s population rapidly.
There are two ways to address this. One way is to relax the birth control, something (that) will help on the margin, but even if they fully relax the control (it s) probably difficult to reverse the trend, said Zhiwei Zhang, chief economist at Pinpoint Asset Management. The other way to deal with it, from an economic policy perspective, is to make industry more dependent on other sectors, he said.
China s economy has relied heavily on industries such as manufacturing that require large amounts of cheap labor. But rising wages are making Chinese factories less attractive, while workers will need higher skills to help the country become more innovative.
Economic challenges call for cautious approach | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.