Barclays Says Robots Could Offset 60% of China’s 37 Million Labor Shortfall by 2035
Updated
Updated · Bloomberg · May 19
Barclays Says Robots Could Offset 60% of China’s 37 Million Labor Shortfall by 2035
1 articles · Updated · Bloomberg · May 19
Humanoid robots could cover as much as 60% of China’s projected labor-force decline by 2035, Barclays said, cushioning the impact of a rapidly shrinking population.
Using demographic forecasts and assuming a 65% participation rate, the bank estimates China’s workforce will contract by 37 million over the next decade.
That loss would tighten labor supply for a manufacturing sector that generates about a quarter of China’s economy, raising pressure to automate.
The forecast points to robotics as a key tool for sustaining China’s industrial base as the country faces its steepest population decline in decades.
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