Forward Thinking

Forward Thinking on the recipe for Asia’s success story with Justin Yifu Lin

Aug 15, 2023

Justin Yifu Lin, dean of the Institute of New Structural Economics, discusses topics such as new structural economics, catching up for emerging economies, the future of globalization, and the momentum of the economies in China and Asia.

37:31

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Episode guests

Justin Yifu Lin

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Episode notes

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Quick takeaways

Understanding and capitalizing on a country's competitive advantages is crucial for successful economic development.

The shift towards a multipolar world with Asia's dynamic and innovative economies leading the way signals continued momentum and contribution to global economic growth.

Deep dives

The Flying Dragon: China's Leading Role in Economic Development

China, often referred to as the 'flying dragon,' has become a major economic powerhouse. This concept, coined by a Japanese economist, highlights China's leading role in economic development, which is far larger than the traditional metaphor of a flying goose. China's rise has been fueled by its focus on structural economics, a sub-discipline that emphasizes the importance of understanding and harnessing the qualitative differences that exist between developed and developing countries. By identifying and capitalizing on their competitive advantages, developing countries can bridge the income gap and achieve sustainable economic growth.

Introduction

3min

Interpreting, Smiling, and New Structural Economics

4min

Accelerating Capital Accumulation for Developing Countries

18min

The Transition to a Multi-Polar World

5min

Asia's Transition to Technology Leader

6min

Advice for Success and Sustainable Growth

2min

Co-host Janet Bush talks with Justin Yifu Lin. Lin is dean of the Institute of New Structural Economics, dean of the Institute of South-South Cooperation and Development, and professor and honorary dean of the National School of Development at Peking University. He served as chief economist at the World Bank from 2008 to 2012, and he actually took up his World Bank position after serving for 15 years as professor and founding director of the China Center for Economic Research at Peking University. In this podcast, he covers topics including the following:

What is new structural economics?
How can emerging economies catch up?
Is globalization going into reverse?
Will the economies of China and Asia maintain momentum?

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