China’s rise is the most intriguing economic phenomenon of our time. One of the world’s poorest economies at the end of the nineteenth century, China has, for over three decades, been experiencing average annual growth of over 9 percent, with growth in foreign trade of over 16 percent. In this presentation, Professor Lin offers an insider’s analysis of China’s miraculous economic ascension, bringing findings from his recent publication “Demystifying the Chinese Economy” to a Melbourne audience for the first time.
Professor Lin explains how Deng Xiaoping succeeded in turning the economy around, using a dual-track approach, rather than the “Washington Consensus” formula of rapid privatization and trade liberalization. He describes how China managed to achieve stability and incredible growth rates simultaneously, and discusses the valuable lessons that other developing countries can learn from this stellar achievement.
This lecture addresses key questions that underpin current global economic debate: Will China’s growth be maintained? Can it be replicated? What effect does rising inequality within China have on its economic prospects? For an audience located squarely in Asia, at the beginning of the Asian Century, the chance to hear from this highly influential speaker is not to be missed.
Justin Yifu Lin is the founder and first director of the China Center for Economic Research, an economic think tank at Peking University. He is the former Chief Economist and Senior Vice President for Development Economics at the World Bank and has held professorial positions at Peking University, the Hong Kong University of Science and Technology, Australian National University and UCLA.
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