Analysts believe that today 's " migrant miracle " of billions of workers moving from the countryside to the cities could be over as the so - called " turning point " is reached whereby excess rural labour dies out and pricing power returns to workers . If this should happen , it could have a negative impact on asset prices across the globe , and pose a real challenge to the " new normal " of low rates .
Analysts believe that China's "migrant miracle" of billions of workers moving from the country to the cities could be over as the so-called "Lewis point" is reached whereby excess rural labour runs out and pricing power returns to workers. If this should happen, it could have a negative impact on asset prices across the globe, and pose a real challenge to the "new normal" of low rates.