Over the next 10-15 years, China is facing a large demographic shift:
In 2008, 18-22 year-olds were 25 m per yearly cohort, while 58-62 year-olds were only 12 m per birth year. In other words, the potential labor force was growing at 13 m (nearly 2 %) annually.
In 2023, the 18-22 year-old will be down to 16 m per year, whereas 58-62 year-olds will be 20 m. In other words, the labor force will be shrinking by 4 m (0.5 %) annually.
(In actual fact, the impact will be a bit smaller, because China's elderly have so far been retiring at an unusually early age.)
( source )
Trucking And Blue-Collar Woes
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