Abstract:

Skill formation, especially the formation of specialized skills, determines the competitive comparative advantage of countries and firms, and the formation of specialized skills is a lengthy process that is constrained not only by availability constraints but also by the ability to safeguard their availability. “Patience capital” plays an important role in guaranteeing the formation of specialized skills, which is reflected in Germany and other high-skilled economies by shaping a stable environment for the formation of specialized skills through the coordination of relations; recognizing the market employment attributes of apprenticeships and providing them with labor safety; and shaping comparative advantages by coupling with the complementary system of skill formation. China’s industrial development calls for more specialized skill formation. The protection of youth skill acquisition has evolved from “state-unit protection” embedded in the national economic system to “state-social security” emphasizing the market orientation. The existing problems are that the incentives for young people to engage in skills learning are more compensatory than developmental, and that there is no stable relationship between the relevant stakeholders for the formation of specialized skills. It is recommended that governments strengthen the investment of “patient capital” to support youth skills acquisition.

Key words: skill acquisition, social security, skill formation, skill-based society