Justin Yifu Lin: Asia is the engine of the global economy

Special Topic: Boao Forum for Asia 2026 Annual Conference

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Late on March 26, a message said that the Boao Forum for Asia 2026 Annual Conference will be held in Boao, Hainan from March 24 to 27. During the meeting, Lin Yifu, former World Bank Chief Economist and president of the Institute of New Structural Economics at Peking University, held a dialogue with the media. Lin Yifu said that China and Asia are rising. Last year, about 60% of the global GDP growth came from Asia, so Asia is the engine of the world economy.

“I hope that Asia’s economic development can provide the whole world with a new vision and paradigm, especially for countries in the Global South. We are now discussing Chinese-style modernization, because in the past we believed that modernization must follow a Western path, but the result is that many countries that chose the Western path have fallen into poverty or the middle-income trap.” Lin Yifu said.

Lin Yifu said that the rise of China and Asia will bring more hope. “A country that has been trapped in poverty for a century can change its fate—from being controlled by others to becoming self-reliant and confident. This can be accomplished.”

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责任编辑：宋雅芳