China’s Migrant Workers—at the Heart of Economic Growth

China’s Migrant Workers—at the Heart of Economic Growth
A migrant tea picker plucks tea leaves on the first day of the Dragon Well Tea Festival at the Longwu Township, famous for its top-grade dragon well tea March 22, 2007 in the outskirts of Hangzhou of Zhejiang Province, China. China Photos/Getty Images
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Financial markets usually take a shorter term view and focus on things like quarterly economic growth, the exchange rate, as well as capital flows—especially when it comes to China recently. 

Every once in a while, it’s good to focus on some longer term indicators, which will shape the economy for the next decades, like population growth and the availability of workers.

Case in point: Every year the National Bureau of Statistics (NBS) in China puts out a report analyzing the status of migrant workers and just released the one for 2015.

There are major demographic shifts underway, including that the working age population has peaked.
Capital Economics
Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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