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China's pace of demographic transition -- both mortality and fertility decline -- have been unparalleled in human populations of significant size. With China's fertility now well below replacement level, what lies ahead for this demographic overachiever? Dr. Wang will discuss the role of the Chinese state in the demographic transition, pointing out how focusing on the role of government overlooks the socioeconomic engines of China's transition and contributes to under-appreciation of the long-term implications of China's demographic transition.

Wang Feng is a senior fellow at the Brookings Institution and the director of the Brookings-Tsinghua Center for Public Policy. Prior to his current position, Wang Feng taught at the University of California, Irvine (from where he is on leave currently). Professor Wang is an expert on China’s social and demographic change. His recent work on social inequality in China includes Boundaries and Categories, Rising Inequality in Post-Socialist Urban China (Stanford University Press, 2008), Creating Wealth and Poverty in Post-Socialist China (co-edited with Deborah Davis, Stanford University Press, 2009), and his work on demographic change in China includes “The Demographic Factor in China’s Transitions” (with Andrew Mason, included in Loren Brant and Thomas Rawski, eds., China’s Great Economic Transformations. Cambridge University Press, 2008).

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Wang Feng Brookings-Tsinghua Center for Public Policy Speaker
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Japan leads, chased closely by South Korea, with China, on a vastly larger scale, not far behind. Not as mercantilist development states nor as threats to America's high-tech industry, but rather as the world’s most rapidly aging societies.  

A wave of unprecedented demographic change is sweeping across East Asia, the forefront of a phenomenon of longer life expectancy and declining birthrates that together yield a striking rate of aging. Japan already confronts a shrinking population. Korea is graying even more quickly. And although China is projected to grow for another couple of decades, demographic change races against economic development. Could China become the first country to grow old before growing rich? In Southeast Asia, Singapore also is confronting a declining birthrate and an aging society. Increasingly, Asia’s aging countries look to its younger societies, such as Vietnam, Indonesia, and India, as sources of migrant labor and even wives. Those countries in turn face different demographic challenges, such as how to educate their youth for global competition.

The third Stanford Kyoto Trans-Asian Dialogue will focus on demographic change in the region and its implications across a wide range of areas, including economies, societies, and security. Asia’s experience offers both lessons and warnings for North America and Europe, which are facing similar problems. Questions to be addressed include:

  • What are the inter-relationships between population aging and key macroeconomic variables such as economic growth, savings rates, and public and private intergenerational transfers?
  • How and why do policy responses to population aging differ in Japan, South Korea, and across different regions of China?
  • What are the effects of demographic change on national institutions such as employment practices, pension and welfare systems, and financial systems?
  • What policies can or should be pursued to influence future outcomes?
  • How will demographic change affect security in the Asia-Pacific region?
  • How have patterns of migration impacted society and culture in East Asia, in comparative perspective?
  • How will demographic change influence the movement of people across the region and the prevalence of multicultural families?
  • What lessons can Asia, the United States, and Europe learn from each other to improve the policy response to population aging?

The Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) established the Stanford Kyoto Trans-Asian Dialogue in 2009 to facilitate conversation about current Asia-Pacific issues with far-reaching global implications. Scholars from Stanford University and various Asian countries start each session of the two-day event with stimulating, brief presentations, which are followed by engaging, off-the-record discussion. Each Dialogue closes with a public symposium and reception, and a final report is published on the Shorenstein APARC website.

Previous Dialogues have brought together a diverse range of experts and opinion leaders from Japan, South Korea, China, Vietnam, Thailand, Indonesia, Singapore, India, Australia, and the United States. The first Dialogue examined the global environmental and economic impacts of energy usage in Asia and the United States. It also explored the challenges posed by competition for resources and the possibilities for cooperating to develop sustainable forms of energy and better consumption practices. Last year’s Dialogue considered the question of building an East Asian Community similar in concept to the European Union. Participants discussed existing organizations, such as ASEAN and APEC, and the economic, policy, and security implications of creating an integrated East Asia regional structure.

The annual Stanford Kyoto Trans-Asian Dialogue is made possible through the generosity of the City of Kyoto, the Freeman Spogli Institute for International Studies at Stanford University, and Yumi and Yasunori Kaneko.

Kyoto International Community House Event Hall
2-1 Torii-cho, Awataguchi,
Sakyo-ku Kyoto, 606-8536
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Karen Eggleston
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Can social, economic, and policy changes turn a period of growing old-age dependency into one of positive opportunity and growth in China? Qiong Zhang and Asia Health Policy Program director Karen Eggleston explore this challenging question in a recent China Brief article. They look back into several decades of China's history and also consider the current demographic picture of one-child families, gender imbalance, declining fertility rates, and a healthy and prosperous aging population.

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China is now predominantly a country with one-child families.
Stefan Lins
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The Asia Health Policy Program (AHPP) of the Walter H. Shorenstein Asia-Pacific Research Center, in conjunction with the Stanford Center for Population Research (SCPR), announces the availability of 2011–2012 pre-doctoral research assistantships in contemporary Asian demography. The research assistantships support pre-doctoral students working within a broad range of topics related to demographic change in Asia while they provide research assistance to Karen Eggleston, faculty director of AHPP, and Shripad Tuljapurkar, faculty director of SCPR.

DESCRIPTION

Research assistantships are available to Stanford University PhD candidates who have completed three quarters of graduate studies at Stanford and have made progress toward defining original research related to population aging, gender imbalance, inter-generational support, migration and health, or other topics related to demographic change in one or more countries of Asia. A minimum of three quarters of residence and participation in AHPP activities is required. AHPP and SCPR invite applications from a broad range of disciplines, including anthropology, biology, economics, demography, history, law, political science, and sociology.

Students on research assistantships (RAs) receive salary and tuition allowance for up to 10 units (depending on the time commitment) in autumn, winter and spring quarters of the 2011–12 academic year. In the summer, tuition allowance for an RA is usually for three units. The RA may choose to work between 10 hours (25% time) and 20 hours (50% time) per week during the quarters in which they are employed. The research assistance will be an extension of research related to the book co-edited by Eggleston and Tuljapurkar: Aging Asia: The Economic and Social Implications of Rapid Demographic Change in China, Japan, and South Korea. Each RA also receives cubicle space at SCPR.

APPLICATION PROCESS

Applicants should send the following materials to the research assistantship coordinator, Lisa Lee:

  • CV
  • Description of research interests or a detailed dissertation prospectus. The description should be clear and concise, especially to readers outside your discipline, and should not exceed five double-spaced or three single-spaced typewritten pages.
  • Description of previous RA experience and relevant skills, including in quantitative and qualitative analysis. This description should be no longer than one page.
  • Copy of transcripts. Transcripts should cover all graduate work, including evidence of work recently completed.
  • Two letters of recommendation from faculty or advisors, sent directly to AHPP.

Only those applications that contain the complete materials listed above will be considered.

Deadline for receipt of all materials is May 20, 2011.

Please address all materials to:

Lisa Lee, Administrative Associate for AHPP and SEAF
Shorenstein APARC
Stanford University
Encina Hall, Room E301
Stanford, CA 94305-6055

llee888@stanford.edu
(650) 725-2429 (voice)
(650) 723-6530 (fax)

 

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After completing the postdoc program, I landed a dream academic job, where I can continue to research health policy with a focus on the Asia-Pacific region. Despite its relatively short period, my postdoc experience also helped expand the scope of my research and the breadth of professional network.

-Dr. Young Kyung Do 
Former Asia Health Policy Postdoctoral Fellow (2008–09)

The Asia Health Policy Program (AHPP) at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) is pleased to announce that Ang Sun has been awarded the 2011–12 Asia Health Policy Postdoctoral Fellowship. Sun is currently completing her PhD in development economics at Brown University. She earned bachelor degrees in computer science and economics from Peking University in 2002. Sun's research focuses on resource allocation within households, especially in developing Asia. In her dissertation, she provides empirical evidence that the 2001 divorce law in China empowered women and decreased sex-selective abortion. She has also studied multi-generational living arrangements and household decisions about fertility and labor-force participation.

We also are delighted to announce that Yuki Takagi, currently completing her PhD in government at Harvard University, will be the 2012-13 Asia Health Policy Postdoctoral Fellow. Takagi is completing her dissertation on the political economy of insurance provision and intergenerational family transfers, such as nursing and childcare, focusing on East Asia. She has earned bachelor of economics and master of law degrees from the University of Tokyo. Takagi will join Shorenstein APARC after completing a postdoctoral fellowship in the Department of Politics at Princeton University in 2011–12.

The research of these two postdoctoral fellows will complement the Shorenstein APARC research initiative on demographic change in East Asia.

The Asia Health Policy Postdoctoral Fellowship is designed to strengthen research in the field of Asian comparative health policy and demographic change, drawing from junior scholars in a variety of disciplines, including: demography, sociology, political science, economics, law, anthropology, public policy, health services research, and related fields. Fellows participate in AHPP events and collaborative research while completing their own projects on health policy or the social and economic implications of population aging in Asia.

Previous postdoctoral fellows in the program have accepted faculty positions in Asia and the United States. Dr. Young Kyung Do (2008–09), who earned his PhD from the University of North Carolina at Chapel Hill, is now an assistant professor at the Duke-National University of Singapore Graduate Medical School. Dr. Brian Chen (2009–10), who earned his PhD in 2009 from the University of California, Berkeley, has accepted a faculty position at the Arnold School of Public Health at the University of South Carolina. The current postdoctoral fellow, Dr. Qiulin Chen, earned his PhD from Peking University. He studies the political economy of China's health reforms as well as how China compares to other countries in terms of public and private intergenerational transfers (the China component of the National Transfer Accounts project).

Thoughts from the postdoctoral fellows

Dr. Do notes that "given that the primary goal of most postdoc programs is to help fresh PhD graduates prepare a successful academic career, my postdoc experience at Stanford['s Shorenstein] APARC has proved to be effective in my professional career thus far. After completing the postdoc program, I landed a dream academic job, where I can continue to research health policy with a focus on the Asia-Pacific region. Despite its relatively short period, my postdoc experience also helped expand the scope of my research and the breadth of professional network."

Dr. Chen adds that "the postdoctoral position opened many more doors than I had coming directly out of my Ph.D. program... The support I received was phenomenal... The wider Stanford community affords the postdoctoral fellow the opportunity to meet and interact with leading scholars of virtually any field in the arts and sciences."

The new postdoctoral fellows anticipate similarly stimulating experiences at Stanford:  Takagi says she is "delighted and excited" to accept the fellowship, and Sun emphasizes that she appreciates "the opportunity to spend one year at such a prestigious place as the Shorenstein Asia-Pacific Research Center at Stanford, which will be a very nice start of my research career."

 

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Go out there and change the world.
- Tim Draper, Draper Fisher Jurvetson

"Whatever the world looks like now, it will change," said Tim Draper, founder and managing director of Draper Fisher Jurvetson (DFJ), during the keynote session at the March 1 Entrepreneurship in the Global Marketplace seminar, organized by the Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE) with sponsorship from Alibaba.com, the first in a series of seminars by the Schwarzenegger Emerging Entrepreneur Initiative. Concluding his remarks, Draper urged the overflow audience: "Go out there and change the world."

Draper and the nine other participants shared different perspectives on entrepreneurship, but a key message underlying all of the presentations was that the world is a dynamic, rapidly changing place where entrepreneurs can succeed by anticipating and responding to global trends. In doing so, many suggested, it is also possible to change the world—for the better. The participants all concurred that China is one of the key places in the world—now and in the future—to do business, representing a challenging but a vast frontier of opportunity.

Global demographic trends are a major factor that venture capitalists consider when making investments. Addressing the worldwide aging phenomenon, which is particularly acute in Asia-Pacific countries such as Japan and China, Draper explained how DFJ has invested in a company that manufactures videogame-like devices designed to improve cognition, noting the growing market for such devices that help keep cognitive health apace with a longer life span. Hans Tung, a partner with the Shanghai-based venture capital firm Qiming Ventures, described how his firm is tracking the large segment of China's population living in small cities away from commercial hubs. These members of the populace, who prefer to shop online where they can find a wider selection of goods than in their local shopping malls, are quickly becoming a driving force in China's e-commerce market.

It is China's e-commerce and other Internet firms—fueled by the explosion of Internet users—that carry increasingly significant weight in China's domestic and the global economy. 
Duncan Clark, a visiting scholar at SPRIE, presented related findings from SPRIE's China 2.0: The Rise of a Digital Superpower research initiative, which is led by Marguerite Gong Hancock, associate director of SPRIE. China 2.0, explores the conditions generating such rapid growth of the Internet, and investigates questions surrounding the possible global implications of it. Clark noted that as China's three largest Internet firms—search engine Baidu, instant-messaging service Tencent, and e-commerce portal Taobao—expand, domestic competition will not only intensify, but move further into the global economic arena. The "big three" firms are already ranked among the top 20 Internet sites in the world based on site traffic. According to Clark, the key question in the future for U.S. companies will be how to partner with Chinese companies in order to insure their own growth.

Riding the global wave of innovation and entrepreneurship, Jonathan Ross Shriftman, co-founder of Solé Bicycle Company, and Ryder Fyrwald, vice president of global operations at the Kairos Society, have discovered opportunities to effect positive change despite a global climate of intense economic competition. Shriftman, a recent University of Southern California (USC) graduate, described the lessons that he has learned through his company's quest to manufacture low-cost, quality fixed-gear bicycles that provide a stylish, alternate form of transportation. Despite funding and language challenges, Shriftman and his partner succeeded in connecting with a manufacturer in China through Alibaba.com, and have sold nearly 800 bicycles to date. Fyrwald, who is still an undergraduate at USC's Marshall School of Business, explained the philosophy behind the Kairos Society, an international network of student entrepreneurs who seek to solve world issues through entrepreneurship and innovation. He cited the example of WaterWalla, a company that has developed, among other technologies, a low-cost water purification device for use by urban slum dwellers.

From the perspective of seasoned venture capitalists Draper and Tung and emerging entrepreneurs Shriftman and Fyrwald, the message at Entrepreneurship in the Global Marketplace was clear: the way to succeed in a rapidly changing world is to react promptly—and creatively—to global trends. And, as Shriftman suggested, it is possible to "do well by doing good," and change the world in a positive way.

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Ryder Fyrwald (left), vice president of global operations at the Kairos Society, and Jonathan Ross Shriftman, co-founder of Sole Bicycle Company.
Courtesy Alibaba.com
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The Japanese economy has been stagnating for almost two decades. During this event, Takeo Hoshi will describe the findings of a report that he co-authored with Anil Kashyap of the Booth School of Business at the University of Chicago, the National Bureau of Economic Research (NBER), and the Federal Reserve Bank of Chicago. In the report, Hoshi and Kashyap utilized the neoclassical growth model in order to try to explain the causes of this stagnation and to identify policy choices that might help restore growth. Their focus was intentionally on longer-term issues, rather than the immediate challenges that are associated with the fallout from the global recession.

Looking at financial globalization and the collapse of the fixed exchange rate regime they found that by the end of the 1970s Japan could not rely on an undervalued currency to boost its exports. It had to rearrange its production system and other economic institutions to cope with globalization to reduce its reliance on external demand.

Japan's population structure was shifting and becoming increasingly elderly. Aging meant slower growth of the labor force. Declining fertility combined with aging eventually reduced the domestic saving that supported economic expansion during the rapid economic growth period.

Finally, monetary and fiscal policy performed poorly. The Bank of Japan consistently undershot its inflation objective. The government pursued massive fiscal stimulus during the 1990s and 2000s, so much so that Japan went from having the best debt position amongst advanced economies to the worst.

Hoshi is a Pacific Economic Cooperation Professor in international economic relations at the Graduate School of International Relations and Pacific Studies at the University of California, San Diego. He is also a research associate at the Tokyo Center for Economic Research, and is on the board of directors for Union Bank. His major research area is the study of the financial aspects of the Japanese economy, especially corporate finance and governance.

He is a recipient of the 2011 Reischauer International Education award, the 2006 Enjoji Jiro Memorial Prize, and the 2005 JEA-Nakahara Prize. Among his many publications is Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001), which received the Nikkei Award for the Best Economics Books in 2002.

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Former Henri H. and Tomoye Takahashi Senior Fellow in Japanese Studies at the Freeman Spogli Institute for International Studies
Former Professor, by courtesy, of Finance at the Graduate School of Business
takeo_hoshi_2018.jpg PhD

Takeo Hoshi was Henri and Tomoye Takahashi Senior Fellow at the Freeman Spogli Institute for International Studies (FSI), Professor of Finance (by courtesy) at the Graduate School of Business, and Director of the Japan Program at the Shorenstein Asia-Pacific Research Center (APARC), all at Stanford University. He served in these roles until August 2019.

Before he joined Stanford in 2012, he was Pacific Economic Cooperation Professor in International Economic Relations at the Graduate School of International Relations and Pacific Studies (IR/PS) at University of California, San Diego (UCSD), where he conducted research and taught since 1988.

Hoshi is also Visiting Scholar at Federal Reserve Bank of San Francisco, Research Associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER), and Senior Fellow at the Asian Bureau of Finance and Economic Research (ABFER). His main research interest includes corporate finance, banking, monetary policy and the Japanese economy.

He received 2015 Japanese Bankers Academic Research Promotion Foundation Award, 2011 Reischauer International Education Award of Japan Society of San Diego and Tijuana, 2006 Enjoji Jiro Memorial Prize of Nihon Keizai Shimbun-sha, and 2005 Japan Economic Association-Nakahara Prize.  His book titled Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001) co-authored with Anil Kashyap (Booth School of Business, University of Chicago) received the Nikkei Award for the Best Economics Books in 2002.  Other publications include “Will the U.S. and Europe Avoid a Lost Decade?  Lessons from Japan’s Post Crisis Experience” (Joint with Anil K Kashyap), IMF Economic Review, 2015, “Japan’s Financial Regulatory Responses to the Global Financial Crisis” (Joint with Kimie Harada, Masami Imai, Satoshi Koibuchi, and Ayako Yasuda), Journal of Financial Economic Policy, 2015, “Defying Gravity: Can Japanese sovereign debt continue to increase without a crisis?” (Joint with Takatoshi Ito) Economic Policy, 2014, “Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan” (with Anil Kashyap), Journal of Financial Economics, 2010, and “Zombie Lending and Depressed Restructuring in Japan” (Joint with Ricardo Caballero and Anil Kashyap), American Economic Review, December 2008.

Hoshi received his B.A. in Social Sciences from the University of Tokyo in 1983, and a Ph.D. in Economics from the Massachusetts Institute of Technology in 1988.

Former Director of the Japan Program at the Shorenstein Asia-Pacific Research Center
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Takeo Hoshi Pacific Economic Cooperation Professor in International Economic Relations Speaker Graduate School of International Relations and Pacific Studies, University of California, San Diego
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East Asia's demographic landscape is rapidly changing and comparative academic research is crucial to help guide well-informed decisions in the many policy areas that are affected, such as security, economics, and immigration. From January 20 to 21, the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) gathered subject experts from numerous fields for two days of lively and productive presentations and dialogue to help identify key research issues and questions for its new, three-year research initiative on this significant subject.

Shorenstein APARC held a public panel discussion on January 20, featuring eight scholars from across the United States and Asia. The issue of aging featured prominently in their presentations, as did fertility rates and immigration. A full audio recording of the panel discussion is available on the Shorenstein APARC website and summaries of the presentations follow below. A closed-session workshop took place the next day, the discussions from which will serve as the foundation for future programs and publications related to the research initiative.

January 20 Panel Discussion Presentations

The link between demography and security is more tenuous in East Asia than in other parts of the world, suggested Brian Nichiporuk, a political scientist with the RAND Corporation. Nichiporuk discussed possible policy responses to demographic change in Japan, North and South Korea, the Russian Federation, and China. He suggested, for example, that Japan's new maritime security focus is related to perceived economic and political competition from China, which is magnified by its domestic demographic concerns.

Michael Sutton, a visiting fellow with the East-West Center in Washington, DC, stated that Japan's aging population would remain a major policy issue for the next 20–30 years. He emphasized that the policy challenges posed by this phenomena are complicated by the role that the United States plays in the regional security structure, and also by the growing dominance of China and the history that it shares with Japan. Nonetheless, maintained Sutton, despite the obvious challenges, it is possible for Japan and the other countries facing this demographic issue to successfully adapt.

Social attitudes and policy in East Asia do not favor immigration, as they do in European countries such as Spain and Italy, suggested John Skrentny, director of the Center for Comparative Immigration Studies at the University of California, San Diego. Skrentny focused his talk on low-skill immigrant workers in South Korea and Japan, noting that these two countries, which began receiving workers in the 1970s and 1980s, commonly associate immigrants with social disruption. According to Skrentny, immigration policy is often tied to economics and tends to favor co-ethnic workers.

Chong-En Bai
, chair of the Department of Economics at Tsinghua University, discussed numerous economic policy implications and responses related to demographic change in China. He noted areas where successful policies have been adopted but challenges still remain, including savings and investment, labor and urbanization, pension, healthcare, and long-term care. Bai described, for example, how the children of rural migrants now have access to urban schools, but that they still face the logistical challenge of having to travel back to their home provinces to take college entrance examinations.

Examining demographic change and health improvements is essential to understanding the significant economic growth in East Asia over the past several decades, emphasized David Bloom, chair of the Department of Global Health and Population at Harvard University. He noted the success of East Asian countries in lowering their infant mortality rates through investment in public health improvements, such as sanitation and vaccination. Bloom suggested that these and other past successful policy mechanisms have run their course, and that it is now imperative to find ways to address the region's key demographic issue of aging.

Naohiro Ogawa, director of the Population Research Institute at Nihon University, described findings from the National Transfer Accounts (NTA) project, an international effort to gauge economic flows across age groups. He discussed the pressure placed on Japan's working-age population by the increasing cost of caring for children and the elderly, as well as the challenges and possibilities related to having a large, healthy, aging population. Ogawa noted that institutional responses to demographic change, such as increasing the retirement age and adopting more open immigration policy, have moved slowly in Japan.

Andrew Mason, a professor of economics at the University of Hawai'i, Manoa, also utilized NTA data to make predictions about East Asia's economic future. He proposed that the amount of human capital, such as the money that parents spend on the education of their children, is likely to grow quite rapidly. He also suggested that financial wealth in East Asia is likely to increase significantly as the populations of its countries age. Finally, he suggested that the current trend of regional economic growth would continue, although at a somewhat steadier rate. Mason qualified his predictions with questions, such as whether the return on investment in education would be commensurate with what is spent.

James Raymo, a professor of sociology at the University of Wisconsin-Madison, described a wide array of findings about changes in fertility and family structure in Japan and their connections, as well as possible policy implications. Raymo discussed trends in marriage, childbearing, divorce, non-marital cohabitation, and the participation of women in the labor force. He pointed to gaps in current research, and suggested possible linkages to research on other demographic trends, such as Japan's aging population.

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China is becoming increasingly urbanized as the government adopts policies to encourage migration from the countryside. Rural migrant families face challenges amidst the new urban opportunities.
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