State of Large-Scale Chinese Underemployment

A State of Large-Scale Chinese Underemployment is a state of large-scale underemployment with Chinese underemployment (in a Chinese economy).

• Context:
  • It may be ameliorated by the Chinese Government's concern with Social Stability.
• See: State of Large-Scale U.S. Underemployment.

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References

2018

• https://www.businessinsider.com.au/ai-impact-on-china-jobs-pwc-analysis-interview-2018-10
  • QUOTE: ... automation has the potential to drive yet another explosive period of economic growth for China.

    John Hawksworth, chief economist at the UK arm of global professional services firm PwC, has conducted modelling that indicates China could see its national economy expand by an additional 20% over the next two decades thanks to automation -– as long as Beijing drives policy to manage yet another wave of economic transition as global companies rapidly automate their supply chains.

    And while the modelling suggests some 200 million jobs could be displaced by 2037, it also forecasts the creation of almost 300 million new jobs, mainly in the services sector, which is already growing quickly in China.

    Beijing’s central economic planning — a major topic of conversation among economists and the world’s business elite lately — and its ability to retrain workers will be pivotal in managing the fallout from the coming wave of automation that threatens to destroy huge amounts of manufacturing jobs. These jobs have supported China’s transformation over the past three decades and helped it to challenge the primacy of the US in the global economic order.

    At the same time, it has helped the Chinese Communist Party consolidate power by dramatically growing the economy and increasing the wealth of its citizens. China’s leaders would avoid mass retrenchments “because they’re so concerned about social stability,” ...

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