China Tells

Wall Street Journal: Justin Lin is the World Bank’s first economist from developing countries. He was born in Taiwan but swam across the strait to join the mainland China. According to Justin Lin, the stimulus program is more effective in China than the developed world mainly because China’s investment are in infrastructure and is highly leveraged through expanded bank loans. The consumption in China, however, is unlikely to recover to replace investment or export as big corporations benefit from the low wage and low finance cost but ordinary people’s income has not increased accordingly.

华尔街日报采访林毅夫。林毅夫是世界银行第一个来自发展中国家的经济学家。当年他出生于台湾，但是游过台湾海峡加入共产党阵营。林教授指出刺激政策在中国要比其他国家来的有效，主要原因是钱都用于基础设施建设，同时银行贷款的扩张加大了倍乘系数。