CHINACHINA_FACES_GROWING_SKILLS_SHORTAGE_Gl

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1 of 1 DOCUMENT Global Finance Magazine January, 2008 CHINA; CHINA FACES GROWING SKILLS SHORTAGE BYLINE: Anita Hawser SECTION: NEWSMAKERS; Around The World Pg. 4 LENGTH: 351 words With its economy growing at more than 10% per year, nothing appears likely to stop the rise of China as an eco- nomic superpower. However, the first-ever joint European-Chinese study on the Chinese labor market points to a num- ber of factors, including China's aging population, that it says might slow China's progress. Released by the Adecco Institute, which conducts research on the Chinese labor market, and the Shanghai Academy of Sciences, in cooperation with the University of Warwick, the study says China will suffer shortages in five key areas: management talent, English language skills, R&D personnel, senior and secondary skilled workers, and hold- ers of professional certificates. According to the study, the Chinese workforce will grow by less than 5% from 2007 until 2015. By then, 33% of the population will be over the age of 50. In sharp contrast, 60% of India's workforce will be under 30 in 2015.
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