|About the Book|
This book presents empirical observations and theoretical thinking of the fundamental changes in the Chinese economy. It starts with a warning of the arrival of the Lewis Turning Point, which is empirically proven by disappearance of surplus labor force and a rapid increase in wages of unskilled workers. It further reveals that Chinas rapid population-aging trend is diminishing the demographic dividend that has kept Chinas economic growth rate high. Subsequently, it touches upon employment challenges that arise after reaching the Lewis Turning Point, further propelling urbanization, a balanced regional development, and so on. Finally, it introduces middle-income trap which is one of the biggest challenges China is facing, followed by recommendation of policies for the Chinese government to tackle the challenges ahead.This book should be of great interest to graduates, undergraduates, researchers and specialists who follow closely the economic development and demographic transition of China, the worlds most populous country.Contents: The Arrival of the Lewis Turning Point: How Many Turning Points will Chinas Economy Experience?Finding the Arrival of the Lewis Turning Point and Its Policy ImplicationExtended Reading: Demographic Transition, Demographic Dividend, and Lewis Turning Point in ChinaThe Disappearance of Demographic Dividends: How China is Dealing with the Problem of Growing Old Before Becoming Rich How China Responds to the Disappearance of Demographic DividendsExtended Reading: Demographic Dividend: New Source of Economic GrowthEnd of the Unlimited Labor Supply Era in China: The Era of Unlimited Labor Supply Ends in ChinaThe Peasant Worker Shortage Reflects the New Relationship of Labor Supply and Labor DemandMaintaining Composure and Positively Responding to the Changes in Labor RelationsExtended Reading: Wage Increases, Wage Convergence, and the Lewis Turning Point in ChinaEmployment Challenges After Reaching the Lewis Turning Point: Increased Urgency of Employment Challenges in the Long TermThe Implication of Wage Convergence in the Urban Labor MarketPromoting Healthy Development of Chinas Labor MarketExtended Reading: Growing Pains: What Employment Dilemma Does China Face at Its Lewisian Turning Point?Further Propelling Urbanization and Balanced Regional Development: Awareness of the Mezzogiorno Trap in the Central and Western RegionsFacts and Models about the Urbanization of Peasant WorkersA Tale of Two Cities: Diversity in the Household Registration System ReformExtended Reading: The Hukou Reform and Unification of Rural-Urban Social WelfareAvoiding the Middle-Income Trap: Maintaining Sustainable Economic Growth Requires Giving Priority to the Development of EducationHow to Deal with the Challenge of Growing Old Before Becoming Rich The Crux of the Continually Increasing Income InequalityExtended Reading: Is There a Middle-Income Trap? Chinas Theories, Experiences, and ImportanceReadership: Graduates, undergraduates, researchers and specialists who follow closely the economic development and demographic transition of China.