World Bank economist discusses the importance of focus

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03:28

“We should not overreact to daily issues. Relationships are long term and we should do what we need to do: Reform our economy; improve our system. When we become a high economy country, we'll have a good foundation and good institutions for meeting the aspirations of the people,” said Professor Justin Lin, a former World Bank chief economist.

Professor Lin, who is now the dean of the New Structural Economics Institute at Peking University, attended the China Development Forum in Beijing last weekend. With representatives from well-known think tanks, Fortune 500 companies, and the participation of foreign and local governments, the two-day meeting focused on the progress made in the reform and opening-up of China.

Trade tensions between China and the US are at the center of discussions. However, Professor Lin said that the nature of China-US relations should not be confused.

"We need to see the foundation of our relationship. The foundation is this. Will this relationship help each other improve the living standard of each country, and fulfill people's dreams in both countries? And I still believe, yes, that's the foundation of China-US relations."

The former World Bank chief economist Professor Justin Lin (R) with CGTN's host Tian Wei. / CGTN Photo

He also illustrated the mechanism of trade, saying it is still win-win and that's why globalization is an international trend. Some US experts suggest that China should look beyond the current Washington administration and look at the real nature of economy of the two countries.

World Insight With Tian Wei is 45-minute global affairs and debate show on CGTN. It airs weekdays at 10:15 pm BJT(1415GMT) with rebroadcasts at 4:15 am BGT (2015GMT).

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