Simply because as a matter of fact China still has plenty of rural surplus laborers and people are talking about a magnitude of more than 200 million - so you know from national-wide point of view, there is plenty of labor supply there.
More Quotes from Qu Hongbin:
The government should create more jobs in the manufacturing and service sectors as part of it ongoing campaign to reduce the country's rural population.Qu Hongbin
China has emphasized that they do not want to make the currency issue into a political issue, which means that China will continue to hold dialogue with trading partners to search for proper solutions, and the exchange rate is not necessarily the only means to do that,
Qu Hongbin
Given the evidence of deteriorating investment efficiency, China needs to rebalance its growth by shifting away from investment toward consumption.
Qu Hongbin
How Chinese exports perform is largely driven by external demand rather than the exchange rate,
Qu Hongbin
There are various hidden uncertainties if we look at the main growth engines. Exports depend on external factors and it will be a big question as to whether China's exports can be a single flower blossoming if the world economy slows next year.
Qu Hongbin
It's a challenging task but that shouldn't be an excuse for China not starting on it right now.
Qu Hongbin
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