China’s economic achievement is so enormous, indeed literally without parallel in human history, that it is sometimes difficult for people to take in its scale. A country which in 1978, when “reform and opening up” was launched, was one of the poorest in the world, has now reached a point where it has a higher GDP per capita than the countries containing the majority of the world’s population. Only 30 per cent of the world’s population now lives in countries with higher per capita GDP than China.
Chosen excerpts by Job Market Monitor
via Key Trends in Globalisation: Only 30% of the world now has a higher GDP per capita than China.
Related Posts
China’s Labor Market
China’s labor markets are flashing a warning sign, with new job adverts on a leading recruitment website sharply down in April, and job losses in manufacturing spreading to the services sector. With the official data on labor markets infrequent — and, in some cases, misleading — alternative indicators take on an added significance. China Real … Continue reading »
China / Jobless fears as record 6.99 million graduates hit market
A record 6.99 million students – an increase of 190,000 compared to last year – will graduate from China’s higher education institutions this year. But graduate unemployment, a scourge in recent years, shows no sign of easing for the class of 2013. Local media in a number of Chinese regions have been declaring 2013 as … Continue reading »
China / Is This the End of Cheap Labor?
It’s been the lament of everyone for years now: Cheap Chinese labor is killing the job market. With lower wages and lax regulation, the giant sucking sound we heard was manufacturing jobs headed from Sheboygan to Shenzhen. But now China’s new found riches are starting to turn in on themselves in the form of much … Continue reading »
China / Services employment has climbed for four years
Seven years ago, Cheng Shuangping quit her assembly job at an electronics company in central China to move to Beijing to work as a waitress and a clothing saleswoman before managing a foot-massage spa. “The assembly work was boring and the pay was meager,” Cheng, 34, said in an interview at Oriental Foot Massage near … Continue reading »
China / Only 29 percent of the graduate students master’s degrees have found jobs
As the Spring Festival is coming to an end, graduate students may find it harder to get a desirable job than usual, as a recent survey shows that only 29 percent of students with master’s degrees have secured jobs, down from last year. A survey conducted from December last year to January 2013 by My … Continue reading »
China / Internet business boom has helped create more than 10 million jobs
Chinese young people are seriously considering making a living online as the economic slowdown bites China’s more conventional jobs market. An Internet business boom has helped create more than 10 million jobs in China, which greatly alleviates current employment pressure, according to a new report by the Ministry of Human Resources and Social Security (MHRSS). … Continue reading»
China / Ageing / Reserve army of peasants looking for work peaked in 2010
We can now discern more or less when the catch-up growth miracle will sputter out. Another seven years or so – enough to bouy global coal, crude, and copper prices for a while – but then it will all be over. China’s demographic dividend will be exhausted. Beijing revealed last week that the country’s working … Continue reading »
China / The Rumored Middle Class
Rumors of a rising Chinese middle class have been touted widely. However, the evidence supporting these claims remains conflicting at best. The “middle-class” jobs outsourced from the United States have not necessarily translated to “middle-class” jobs in developing nations, especially in China. Defining the middle class has always been a difficult venture, but on several …Continue reading »
China / Working-age population shrank in 2012
China’s working-age population shrank in 2012, marking the beginning of a trend that will accelerate over the next two decades and have profound implications for the world’s second-largest economy. By the end of December China’s population aged between 15 and 59 was 937.27 m, a decrease of 3.45m from 2011, according to figures released by … Continue reading »
Job Market Monitor 
Discussion
Trackbacks/Pingbacks
Pingback: As China’s middle class grows, so do its concerns | China Daily Mail - May 27, 2013
Pingback: China / Growing competition pushes migrant worker pay growth nearly down in 2012 | Job Market Monitor - May 27, 2013
Pingback: China vs US- On the basis of purchasing power parity, China’s economy is bigger | Job Market Monitor - April 30, 2014