China’s looming talent shortage - McKinsey Quarterly
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If China’s economy is to go on growing and its base is to evolve from manufacturing to services, it will require a huge number of qualified university graduates.
While university graduates are plentiful there, new MGI research shows that only a small proportion of them have the skills required for jobs further up the value chain”and competition for these graduates is becoming fierce.
China must undertake a long-term effort to raise the quality of its graduates by changing the way it finances its universities, revamping curriculums to meet the needs of industry, and improving the quality of English-language instruction.
China could emerge as a base for IT and business process offshoring, but unless the country addresses its looming labor shortage now the global ambitions of Chinese companies will probably be stymied.
