{"id":678,"date":"2017-06-09T01:29:39","date_gmt":"2017-06-09T00:29:39","guid":{"rendered":"https:\/\/rosetta.vn\/short\/?p=678"},"modified":"2017-06-09T01:29:39","modified_gmt":"2017-06-09T00:29:39","slug":"vietnam-is-losing-economic-ground-to-china-due-to-lack-of-high-skilled-workers","status":"publish","type":"post","link":"https:\/\/rosetta.vn\/short\/2017\/06\/09\/vietnam-is-losing-economic-ground-to-china-due-to-lack-of-high-skilled-workers\/","title":{"rendered":"Vietnam Is Losing Economic Ground To China Due To Lack Of High-Skilled Workers"},"content":{"rendered":"<blockquote><p><span>Vietnam has grown at an average 6.2% per year since 2000, gaining fame worldwide as a&nbsp;go-to place for export manufacturing, largely because of cheap labor. The&nbsp;<\/span><a href=\"http:\/\/www.amchamvietnam.com\/vietnams-2017-minimum-wage-decree\/\" target=\"_blank\">minimum wage<\/a><span>&nbsp;in Hanoi and Ho Chi Minh City is just 3.9 million dong ($172) per month. But this advantage from one of the world\u2019s fastest-growing economies looks like less of a good deal when you realize that 78% of the workforce has no academic qualification and just 9% have credentials from a university or higher. The lack of more skilled labor has become an increasingly obvious barrier to growth in value-added exports such as high-tech goods, which require advanced studies for mastery.<\/span><\/p>\n<p><span>&#8230;&nbsp;<\/span><\/p>\n<p><span><span style=\"font-size: 15px;line-height: 24px\">Without a fix Vietnam could lose ground to China as Asia\u2019s economic darling. A similar number, 76%, of Chinese workers also have \u201cno skill at all,\u201d Beijing\u2019s state-run&nbsp;<\/span><a href=\"http:\/\/www.chinadaily.com.cn\/china\/2016-11\/21\/content_27444998.htm\" target=\"_blank\">China Daily news website<\/a><span style=\"font-size: 15px;line-height: 24px\">&nbsp;says. More than 90% of Chinese companies are \u201caffected by the shortage and low quality\u201d of workers, it adds.<\/span><\/span><\/p>\n<p><span><span style=\"font-size: 15px;line-height: 24px\"><span style=\"font-size: 15px;line-height: 24px\">But the remaining 24% in China is backed by the sheer number of&nbsp;<\/span><a href=\"https:\/\/www.weforum.org\/agenda\/2016\/07\/china-working-ageing-population\/\" target=\"_blank\">830 million working-age adults<\/a><span style=\"font-size: 15px;line-height: 24px\">. A lot have&nbsp;<\/span><a href=\"https:\/\/www.forbes.com\/sites\/kenrapoza\/2017\/04\/17\/chinas-best-and-brightest-leaving-u-s-universities-and-returning-home\/#511f48f01d41\" target=\"_self\">degrees from top Western universities<\/a><span style=\"font-size: 15px;line-height: 24px\">. Some know enough to do a job&nbsp;briefly for someone else and learn how the technology&nbsp;works, then quit to start their own. Manufacturers also pick China for factories to be near its giant consumer market.&nbsp;<\/span><a href=\"https:\/\/www.forbes.com\/sites\/ralphjennings\/2017\/01\/05\/beer-to-xx-5-reasons-vietnams-economy-will-grow-quickly-this-year\/#a80f93b1e85b\" target=\"_self\">Vietnam<\/a><span style=\"font-size: 15px;line-height: 24px\">, with just 93 million people and a still-emerging middle class, isn\u2019t there yet.<\/span><\/span><\/span><\/p>\n<p><span><span style=\"font-size: 15px;line-height: 24px\"><span style=\"font-size: 15px;line-height: 24px\">&#8230;&nbsp;<\/span><\/span><\/span><\/p>\n<p><span><span style=\"font-size: 15px;line-height: 24px\">The government may begin to target certain industries for rigorous education drives, Mussons says. \u201cVietnam\u2019s willingness to focus on strengthening the country\u2019s competitiveness through education is going to be crucial in the next few years,&#8221; he says. &#8220;The Vietnamese government will have to pick industries that they think will be winners and to build up education programs around these sectors.&#8221;<\/span><\/span><\/p><\/blockquote>\n<p>Source:&nbsp;<a href=\"https:\/\/www.forbes.com\/sites\/ralphjennings\/2017\/06\/07\/vietnam-is-losing-ground-to-china-because-it-lacks-skilled-workers\/#631095096256\">https:\/\/www.forbes.com\/sites\/ralphjennings\/2017\/06\/07\/vietnam-is-losing-ground-to-china-because-it-lacks-skilled-workers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vietnam has grown at an average 6.2% per year since 2000, gaining fame worldwide as a&nbsp;go-to place for export manufacturing, largely because of cheap labor. The&nbsp;minimum wage&nbsp;in Hanoi and Ho Chi Minh City is just 3.9 million dong ($172) per<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"quote","meta":{"_mi_skip_tracking":false},"categories":[79],"tags":[366,538,539,540],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p8jhJx-aW","_links":{"self":[{"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/posts\/678"}],"collection":[{"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/comments?post=678"}],"version-history":[{"count":0,"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/posts\/678\/revisions"}],"wp:attachment":[{"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/media?parent=678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/categories?post=678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rosetta.vn\/short\/wp-json\/wp\/v2\/tags?post=678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}