Development and Transition: Lessons from China
Thursday, 23 September 2010
Justin Lin, Chief Economist and Senior Vice President of Development Economics at the World Bank, delivered the inaugural N.T. Wang lecture. Focusing on lessons that China’s growth can offer to other nations, Dr. Lin emphasized the importance of each country developing its comparative advantage in order to compete in the world economy. He noted that China’s comparative advantage is its labor force and that China has learned to focus on this advantage while also utilizing technological advancements from other countries. Dr. Lin also drew attention to China’s “dual-track” economy which joins together a free market system with central planning and noted that China must move away from this inefficient model.
Shang-Jin Wei, N. T. Wang Professor of Chinese Business and Economy and Director of the Chazen Institute at Columbia Business School (CBS), moderated this lecture. A larger summary report is available.