(draft) Former World Bank Vice President Yifu Lin: China's economic advantages are mainly reflected in three aspects

At the 2020 Lenovo Innovation and Technology Conference, honorary president of the National School of Development at Peking University, former chief economist and senior Vice President of the World Bank Justin Yifu Lin has delivered a speech about "New Economy, New Kinetic Energy".

He thinks China has three advantages in economic development.

First, in traditional industries, China has the advantage of latecomers.

The second is in the new industrial revolution, such as the Internet, artificial intelligence, cloud computing, 5G, and other areas where the research and development cycle of the product technology is short, which is beneficial to a country with rich human resources such as China, and China has the most complete industry in the world and has the best supply chain. So, China has the advantage of late-mover advantage and can go hand in hand with developed countries.

The third advantage is that China has the world's largest market in terms of purchasing power.

Making good use of these three advantages, I believe China will have an 8% growth potential every year before 2030.