China’s One Child Policy: Chinese labor pool on the decline
I heard this on the way home and it was damned interesting.
I’m still trying to decide whether the benefits to US manufacturing outweigh the issues this causes for US consumers (though customers with potential to buy “premium US goods” is what we in the marketing business call “an opportunity”).
Kai Ryssdal: When you’ve got more than a billion people, you’ve got what economists call a surplus. In this case, of labor. More people than there’s work for. In the industrial sense, that’s been the case in China for most of the past 30 years. Western companies have come in, set up factories, and capitalized on the cheap labor.
Today, as Marketplace’s Scott Tong continues his series on China’s one-child policy, he explains how the era of cheap and plentiful Chinese labor is coming to a close.
Chen: I just visited this toilet company, and they are talking about putting in an automated production line instead of relying on workers.
You heard it here: toilets will no longer say “Made By Hand.” In the end, China’s labor squeeze could actually help the world.
China’s one child law is an abomination and has created huge issues that you never hear about in the media (such as disabled children being left to die and the massive gender imbalance it has created). It may, in the end, help to strengthen the US.