Economist Lin Yifu on State-Sustained Growth
on August 18, 2012
Standing up to a wave of pessimism about China’s prospects for continuing high-level economic growth is no easy task.
But economist Lin Yifu, who recently retired as a senior vice president and chief economist at the World Bank, is holding his ground with a prediction that China’s gross domestic product will grow by 8 percent in 2012.
Underpinning Lin’s sometimes controversial position is what he calls “new structural economics”—a theoretical framework that emphasizes the importance of a state role in shaping and directing an economy.