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GROWTH SUSTAINABILITY (2) answer(s).
 
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ID:   074182


Challenge facing China's economic growth in its aging but not affluent era / Cai, Fang; Wang, Meiyan   Journal Article
Cai, Fang Journal Article
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Publication 2006.
Summary/Abstract Demographic transition has occurred more rapidly in China than in most developed countries. As the population ages, the growth rate of the working age population has started to decline and the absolute quantity of the working age population will begin to shrink after 2015, which will inevitably result in structural labor shortage. Under the circumstance where comparative advantage is still embodied in its labor-intensive commodities, timely and sufficient supply of a skilled labor force is vital for China to sustain fast economic growth.
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2
ID:   110505


Wage increases, wage convergence, and the Lewis turning point i / Cai, Fang; Du, Yang   Journal Article
Cai, Fang Journal Article
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Publication 2011.
Summary/Abstract We examine the wage trends of ordinary workers and the wage convergence between unskilled and skilled workers in China. First, we find that wages in all non-agricultural sectors, wages of migrant workers, and wages of hired workers in the agricultural sector have increased dramatically since 2003. Second, through comparing wage differentials between migrant and urban resident workers and between heterogeneous education groups within migrant workers, and by investigating the changes in the contribution of the returns to education to wage differentials, we find that the wages of unskilled and skilled workers have converged. Both the increasing wage trends and wage convergence are interpreted as evidence supporting the hypothesis that China has passed what can be called the Lewis turning point in the industrial sector. We conclude that the sustainability of economic growth in China requires an upgrading of labor market institutions to accommodate the merging of the rural and urban labor forces.
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