Why Lin Yifu is Wrong about the Economy
Lin Yifu has emerged at the center of the latest wave of controversy over Keynesianism. He is probably the most debated contemporary Chinese economist. His reputation comes not only because of his opinions, but also because he was the first Chinese senior vice president of the World Bank.
His first public appearance since retiring from the World Bank in June has caused hot debate in academia because he says the Chinese economy still has the potential to grow by 8 percent annually over the next 20 years.
The reason this opinion is controversial is two-fold. On one hand, most economists think China has crossed a threshold, or in the words of economist Wu Jinglian, a tipping point, after maintaining an average annual growth rate of more than 9 percent for three decades. There is a growing consensus that the previous development model can no longer be sustained.
- Regulator Reviews Shareholders in Bank Zhejiang Alibaba Proposed
- Debate over Monetary Rule Should Trump Labor Market Conundrum
- Retired NDRC Pricing Official 'Detained at Beijing Airport'
- Ice Bucket Challenge Could Give Jolt to Charities in China
- 37 Groups Said to Start Making Offers for Piece of Sinopec Sales Subsidiary
- Have anti-corruption efforts become a permanent feature of the political landscape in China?
- Developer Demonstration
- Deadly Bus Crash
- Haier's New Look: 'Micro-Enterprise' Platform
- Baidu Disconnects from Its Plan to Join Gov't Telecoms Pilot
- Sign up to receive our free daily newsletter
- Closer Look: JD.com Sees Its High Hopes for WeChat Fall Short
- Views: Making Sense of China's Anti-Monopoly Campaign
- Four Shanghai Customs Officials Nabbed by Party Graft Buster
- Zhou Yongkang's Early Years
- Zhou Family Legacy: Thick Blood, Fat Profits
- Zhou Yongkang Used Start in Oil Industry to Rise to Public Security Czar
- Closer Look: Anti-Corruption Czar Makes Noteworthy Appearance at CPPCC Meeting
- Chinese Tycoons, Stars Take up Ice Bucket Challenge for ALS
- Deng Xiaoping Gave Double Boost to Reform Efforts, Economist Says
- Detention of Haitong Securities Executive 'Is Linked to Bond Scandal'