Translation Tag: human capital
The CCP Politburo holds “collective study sessions” on a semi-regular basis, in which an outside academic or government expert leads a discussion on a selected topic. Such sessions are important signals as to what issues the senior leadership finds important. The fifth study session of the 20th Central Committee Politburo was held on May 29, 2023 and was presided over by CCP General Secretary Xi Jinping. At this session, Xi urged Party cadres to improve the quality and coverage of China’s education ecosystem, in part given its centrality to greater science and technology “self-sufficiency.”
The CCP Politburo holds “study sessions” on a semi-regular basis, in which an outside academic or government expert leads a discussion on a selected topic. Such sessions are important signals as to what issues the senior leadership finds important. The third study session of the 20th Central Committee Politburo was held on February 21, 2023 and was presided over by Xi Jinping. The session focused on themes related to China’s bid for technological self-reliance and emphasized the need to strengthen basic scientific research.
Economist Cai Fang argues that problems in China’s labor market will hamper efforts to boost productivity in the years ahead. Cai examines the immediate impacts of COVID-19 and its aftermath on the labor market, concluding that as older workers and those in the informal sector exited the workforce, a “large portion of jobs lost to the epidemic cannot be expected to be regained.” In the long term, China will face deeper economic challenges as the growth in new workers slows. In addition, Cai argues that as growth becomes increasingly “innovation-driven,” there will be a surplus of workers who “do not have the human capital required for newly created jobs.”
A prominent scholar at the Chinese Academy of Social Sciences argues that addressing barriers to social mobility is key to curbing rising income inequality in China and avoiding the middle income trap. He promotes hukou reform as a potential remedy, advocating for a change in “the method where the supply of public goods treat[s] people differently based on household registration status.”