Just as a baker cannot make bread without enough flour, China’s new premier, Li Qiang, cannot deliver growth without enough labor. With fertility far lower than official data show, improving China’s economic prospects will require Li to take a drastic – and unpopular – step.
MADISON, WISCONSIN – At a recent press conference, China’s new premier, Li Qiang, argued that the country’s demographic dividend has not disappeared, even though the population is declining. He supported his claim with impressive-sounding figures: China has nearly 900 million working-age people, out of a total population of 1.4 billion, with more than 15 million people joining the workforce every year. But should we believe these numbers?
MADISON, WISCONSIN – At a recent press conference, China’s new premier, Li Qiang, argued that the country’s demographic dividend has not disappeared, even though the population is declining. He supported his claim with impressive-sounding figures: China has nearly 900 million working-age people, out of a total population of 1.4 billion, with more than 15 million people joining the workforce every year. But should we believe these numbers?