The low-skilled labor trap is both the precursor and consequence of the middle-income trap. As Vietnam stands at the precipice of this challenge, it must navigate its way out, leveraging its golden demographic advantage in human resources. The 2022 report “Asia Pacific’s Time: Responding to the New Reality,” published by PwC, underscores a crucial observation concerning Vietnam. Despite being a promising contender in the global supply chain shift, the nation finds itself approaching the brink of its capacity to absorb this transition. In particular, concerning human resources, Vietnam’s unemployment rate […]
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