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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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.
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