The second largest economic group in the global, China, is facing a huge challenge in this day for there are less labor resources in the market.
One of the main cause is due to the one-child policy. By the time of 2060, Chinese population will turn to a deciding trend and the decreasing rate will accelerate in the following years. In consequence, less population leads to decrease in demand as well as a less active market. As time passed by, the entire society gradually lose the power to develop.
As for shorter impact, it has already been reflected in the society. Currently, the aging society has already caused significant impact on the job market. The numbers of job appliers are getting less on many fields of business, especially manufacturing and construction industry. This causes a rise in the wages of those workers, providing a heavier burden for those businesses that has already suffered a lot from the depressing economy. Furthermore, policies that enhances the undergraduate education among the public also negatively affect the amount of labor resources. Growing numbers of people are able to get higher level education and most of them are not willing to be blue collars. All those elements give the government a challenge and it will definitely be a huge task for the government and the society to make adjustment to change this situation.
