A fast shrinking labor force, who mostly get a college degree, creates a dramatic shortage of skill labor workers, China used to have plentiful in the past, says Zhang Juwei, director of the Institute of Population and Labor Economics of the Chinese Academy of Social Sciences to Caixin.
China will count 1.41 billion people by 2015 and then drop, says Zhang Juwei, an eminent researcher of demografic trends at the Chinese Academy of Social Sciences in Yibada. His estimations are part of the next 5-year plan. Despite shortages “Labor supply will remain robust till 2030”, he added.
Against the global trend, China is capping the salaries of the leaders of its major state-owned companies. A good idea, says Zhang Juwei of the Chinnese Academy of Social Sciences (CASS) in the Global Times, and in the long run beneficial for the quality of those firms.
Worldwide corporate executives might earn more than ever before, China is cutting their salaries to reduce the gap between poor and rich. China´s state owned companies (SOE´s) are setting an example, says Zhang Juwei, a research fellow at the Chinese Academy of Social Sciences, at the Global Times.