So China superior education is growing so much that there is not enough qualified jobs to be taken? Sounds like a somewhat good problem to have, reminds me of Cuba
Sounds like a somewhat good problem to have
It’s really not. Having a glut of commodities is a “good” problem to have (though still wasteful). Having a glut of educated youth (or really, a shortage of high skilled jobs) is a social disaster, and indicative of lack of adequate planning for the future.
These kinds of mis matches between supply and demand of labor should be exactly the kinds of things that socialism is supposed to resolve. I respect the strategy of Deng’s reforms, but we shouldn’t pretend as if it isn’t a deeply contradictory system (though that is kind of the point, intentionally using contradictions to accelerate development).
I would believe that there’s more to it, I think that having more qualified people is an inevitable consequence of an accessible higher education, the solution to me is the deduction of pay disparity, it’s a very hard change to do, but I would think that having a more educated population has it’s upside, specially because it is one of the hardest barreiers to development, allowing the government to expand higher complexity challenges.
Leads to people feeling forced into positions where they are considered overqualified, tho. That can lead to braindrain.
It tends to pressure salaries down and devalue higher education. Just look at what has happened to the US for comparison.
I found a YouTube link in your post. Here are links to the same video on alternative frontends that protect your privacy:
