China's Labor Market in the "new Normal"

Résumé du livre

As China implements reforms under the "new normal," maintaining stability in the labor market is a priority. The country's demography and labor dynamics are changing, after benefitting in past decades from ample cheap labor. So far, the labor market appears to be resilient, even as growth slows, driven in part by expansion of the services sector. Migrant flows and possible labor hoarding in overcapacity sectors may also help explain this. Yet, while the latter two factors help serve as shock absorbers- contributing to labor market stability in the short term-if they persist, they may delay the