An LSE expert on the Chinese economy has said she has guarded optimism about the country’s finances over the next three to five years, but argued further reforms were needed to aid its growth.
The comments were made on 6 January, by LSE economist Dr Keyu Jin, as part of the 2016 LSE China Lecture Series, Present Challenges for the Chinese Economy.
In her lecture Dr Jin addressed the persistent global fears on the sustainability and stability of the world's second largest economy, particularly in light of the recent stock market drop, along with the historical legacy of China's current economic model from the country's opening-up.
Dr Jin mentioned that the "doomsday scenarios" on China's economy are nothing new, and that since the opening up of the economy in 1979 there have been normal cycles of strong and then weaker growth.
She also emphasised the critical importance for further ambitious reforms, allowing the private sector to thrive as the driver for China's future growth, reminding the audience that the periods of high economic growth and wealth generation in China over the past 30 years were facilitated by transformational policy changes.
The first talk in the 2016 LSE China Lecture Series, was attended by a diverse mix of LSE friends, alumni and members of the public, who are working as policy-makers at Chinese State Owned Enterprises, multinational corporations, and at a variety of small and mid-sized Chinese private companies.
In addition to Dr Jin’s comments, much of the discussion centred on the immediate challenges in the Chinese economy and the current reform policy, and the likelihood for success.
Dr Keyu Jin is Assistant Professor in LSE's Department of Economics and an Associate of the Centre for Economic Performance and the Centre for Macroeconomics.
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11 January 2016