The China Academy of Information and Communications Technology (CAICT), a government-run research institute, estimates that 5G will create more than 8 million jobs domestically by 2030. The agency thinks major industries, including energy and health care, will spend billions of dollars collectively on 5G equipment and wireless service during that period.
MIT Technology Review
And by then the older generations of workers, numerous but with little qualification will have been replaced by the new one-child-family workers with a very high level of qualification. But one of these workers will replace three of the previous workers. Only one way for China to cope: either push retiring age up to 65 for everyone (that will be some relief for five years) or shift their industries and services from labor industries and services to high tech industries and services. And the two-children-family policy, that is not exactly a success will only be effective in at least twenty years, around 2040. That’s why the Chinese do not see the western trauma: They have entered the years when workers will become highly qualified and scarce, rare, too few in numbers.