Economist Justin Lin Urges West to Adopt ‘Eastern Wisdom’ as China Moves Up Value Chain

The South China Morning Post highlights economist Justin Lin Yifu's critique of Western trade policies, particularly the "overcapacity" narrative surrounding China's industrial growth. Lin, a former World Bank chief economist and advocate for Beijing's industrial strategy, dismisses these claims as a "double standard" and a trap for developing nations. He compellingly contrasts China's auto export figures with Germany's, arguing that by Western logic, China should be considered to have "undercapacity." This perspective is crucial for understanding how China and its supporters view the current global trade disputes. The article underscores the ongoing debate about China's state-backed industrial policies, which have propelled its dominance in green technology and other sectors, but also drawn accusations of unfair competition. From a regional perspective, Lin's call for "Eastern wisdom" resonates with a desire to challenge Western-centric economic frameworks and promote alternative development models. The piece emphasizes that for many in Asia, this isn't just about trade imbalances; it's about a perceived attempt by established powers to stifle the rise of emerging economies through protectionist measures disguised as fair competition.

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Western countries should learn from the wisdom of Eastern countries