China's upcoming labor shortage
Asia Times quotes more extensively from a CASS-study on China's upcoming labor shortage, we already mentioned in May.
New it the association the report makes with the so-called "Lewisian turning point":
"Lewisian turning point" is based on a theory of Nobel laureate Arthur Lewis (1915-91), who said a developing country's industrial wages begin to rise quickly at the point when the supply of surplus labor from the countryside tapers off.
1 Comments:
The original CASS paper mentions the Lewis turning point rather a lot. If you like I can send a copy (in Chinese) that the professor kindly forwarded to me.
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