By 2100, China is projected to have a workforce size of less than 400 million.
Employees on a Chinese EV startup assembly line in Zhejiang province last October. Photo: Hu Xiaofei/VCG via Getty Imageshighlights the need for the country to build a more efficient and robust workforce, but analysts tell Axios that it won't be an easy task.China's nearly 1 billion working-age population already peaked in 2014 and has dipped in the last few years. By 2100, China is projected to have a workforce size of less than 400 million, according to UNlast July.
"The question is whether an increasingly autocratic dictatorship can unlock the value of human resources when so many of the things that an open society like Germany or Japan can count on are beyond their reach," said Nicholas Eberstadt, a political economist at the American Enterprise Institute, citing the institutional flexibility of advanced economies., Beijing underscored the importance of retraining the country's workers.
"We should not only look at the quantity of the demographic dividend but also its quality," Qu Hongbin, vice chairman of the China Chief Economist Forum,China can continue to improve its human capital, and educational investments can counter the risks of a shrinking workforce, he said.
Joseph Chamie, an independent demographer and former director of the UN Population Division, shared similar views. "Technology will play an increasingly important role in China's economic productivity," he said, adding that robots could be an answer to aging societies.
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