Lin Yifu
SISU President Li Yansong
SISU University Council Chair Jiang Feng
Lin Yifu
Lin YifuProfessor Lin Yifu, a famous Chinese economist, analyzed the prospects of China’s economy in his lecture themed The Global Significance of China’s Growth” at Shanghai International Studies University (SISU) on November 16, 2017.
Lin noted China’s rapid economic growth from a backward country to the world’s second biggest economy. He attributed China’s average annual economic growth rate of 9.6% for 38 years since the Reform and Opening Up to innovations, improved economic efficiency and the development of labor-intensive industries. He maintained that China’s economic development was a marvel as China has caught up with most developed countries in economy scale and trade volume within a short time.
Combining the report of the 19th CPC National Congress, Lin explained how China as an ancient civilization can maintain a long-term stable economic growth. He also pointed out that copying the models of developed countries was infeasible in light of his working experiences at the World Bank and the failure of shock therapy in Russia. He hopes that an economic theory that is both universal and with Chinese characteristics will surface soon.
At the end of the lecture, Lin answered students’ questions aboutthe rate of economic growth, whether China will avoid the Minsky Moment” and whether it will have a new economic cycle. He encouraged the students to contribute to the country’s growth.
SISU President Li Yansong expressed gratitude to Prof. Lin for making a speech and appreciated his efforts in cultivating talents with global vision .
SISU University Council Chair Jiang Feng presented Prof. Lin an English version of Tang Xianzu's drama series published by the Shanghai Foreign Language Education Press on behalf of the university. Student representatives presented a calligraphy of the university’s motto, “Integrity, Vision and Academic Excellence” written by students of School of Economics and Finance.
