The end of the Chinese miracle

Sep 26, 2022 | Business, Economics, Videos

Since the early 1980s, China was able to reach economy stardom thanks mostly to cheap labor. But the era is coming to an end. The economic miracle of China is about to end, with slowing economy being the biggest factor.

The turbulent stock market, along with migration, and dwindling labor force further complicates things for China.

The rise of economy success started three decades ago, when there was unexpected flow of labor workers from the countryside to the cities. After three decades, the transformation to urban society is now complete.

But there lies the challenge of “what now”? What lies ahead for China might not be as good as what happened till now. Economy experts are already warning that China is up for an economy downhill, end now Financial Times explores the problem.

The video takes a look at everyday workers, and how their life has changed. Many of the  workers are thinking of going back to their villages, and if that happens, the economy will crash.

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Riyan H.