摘要
China is faced with a decreasing labor supply and therefore is losing its cost advantage.However,benefiting from continuous improvement of population quality,China's population quality-based demographic dividend begins to replace the quantity-based dividend to play a dominant role in economic development.Thus,in supply-side structure,rather than essential factors,it paves the way for the sustainable development of the Chinese economy.With the addition of the successful industrial transformation and upgrading,China still has the advantage to overcome the middle income trap and maintain the momentum of economic growth.
China is faced with a decreasing labor supply and therefore is losing its cost advantage.However,benefiting from continuous improvement of population quality,China's population quality-based demographic dividend begins to replace the quantity-based dividend to play a dominant role in economic development.Thus,in supply-side structure,rather than essential factors,it paves the way for the sustainable development of the Chinese economy.With the addition of the successful industrial transformation and upgrading,China still has the advantage to overcome the middle income trap and maintain the momentum of economic growth.
