Education is becoming increasingly important in China as closing factories leave tens of thousands of workers unemployed.
In Guangdong, a province in South China that produces one third of China’s exports, thousands of factories are closing because of new laws, rising costs, a climbing yuan, and increased competition from India and Vietnam.
While Guangdong is being especially hard hit, the other major coastal provinces are also feeling the pain. Between 2008 and 2009, growth in China’s top ten east coast provinces slowed from an average of 11.2 percent to 7.7 percent.
As China begins to lose its status as the leading exporter of low-priced goods, it will need to provide a better education for its army of workers in order to continue its past economic growth.