Nation's new demographic goldmine

A new breed of workers is emerging in China, and this time it's all about quality - not quantity.

For decades, China's economic growth has been underpinned by a demographic dividend in the form of an ample supply of labor. Today, this growth model is very much under threat. Wages are rising and there are labor shortages, largely the result of China's decades-long one-child policy.

Many countries have experienced declining birth rates as their economies have developed, but the speed and magnitude of China's demographic transition are unprecedented in world history. The United Kingdom took about 200 years to complete its demographic transition to low birth rates, and the United States took 140 years; in contrast, China's transition took only about 30 to 40 years.