In fact, as Chart 5 shows very clearly, India will dominate the global pool of workers as China’s population ages, because no other country that is likely to face the same level of labour costs as India, is anywhere close to having that number of people.
If the hub of global manufacturing is to move from China, realistically speaking, it can only move to India, or to expand the geographic scope somewhat, South Asia However, the mere fact that the economy has a large number of potential workers doesn’t guarantee that they will be employed in desirable, relatively high-productive, well-paying jobs.