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China's Role in the Global Economy: myths and realities

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Slides available to download here (pdf): http://www.lse.ac.uk/assets/richmedia/channels/publicLecturesAndEvents/slides/20140129_1830_chinasRoleGlobalEconomy_sl.pdf Speaker: Dr Keyu Jin Chair: Professor Wouter Den Haan Recorded on 29 January 2014 in Hong Kong Theatre, Clement House. The CFM and Department of Economics lecture series focuses on topical macroeconomic questions. Its aim is to give an informative and balanced overview of available knowledge among macroeconomists. This talk considers China's growing role in the world economy. Keyu Jin is a lecturer at LSE. Her research has focused on global imbalances and global asset prices, as well as international trade and growth. Wouter Den Haan is professor of economics and co-director of the Centre for Macroeconomics at LSE.
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Text Comments (95)
JOE (4 months ago)
http://www.le.com/ptv/vplay/27420915.html?ch=baidu_s 来来来给你们分享一下这个学霸的中文访谈视频
Henreinje (5 months ago)
They should have labelled this lecture "PROOF OF IMMANENT GLOBAL ECONOMIC COLLAPS". If they'd done that, Dr. Keyu Jins brilliant insights would probably have had millions of views by now, and no one with half a brain would be pissed that they've fallen pray to click-bait. I'm coining it "positive click-baiting".
William Wang (6 months ago)
1:00:00 突如其来的娇羞😅
Gan Quan (7 months ago)
The speaker is really attractive to me and her arguments are objective and neutral even if I don't know much about the economy.
Trent Trent (7 months ago)
Smart. Well-educated. Beautiful. Young. Perfect wife!
Paul C (8 months ago)
Huh, nary a mention of systemic and institutionalized corruption especially among state enterprises/governing elites or the consequence of inverse wealth generation where 2 sets of family's wealth eventually are passed onto the only child.
007欧阳清 (8 months ago)
Social revolution is not planned, it will happen spontaneously. Why is this woman working at LSE and not at a Chinese school?
007欧阳清 (8 months ago)
China must go the federal way, like America. Social upheaval is inevitable as economic progress will never fully fulfill human aspirations. The spiritual dimension is key as it is a human necessity.
DJRYGAR1 (8 months ago)
good actress I must say. Lecture boring AF
Naso Bouko (9 months ago)
Why LSE considered a good school nobody knows although some good marketer may have an answer!?!
Pinky the Brain (11 months ago)
Fantastic analysis in easy listening.  Now is about 4 years since.  My own take is the 1 child policy for family that enable focus investment in education. The other is choice of priority in public policies.
rk (1 year ago)
Great insight. This helps tremendously with my studies. Your dedication to understanding the Chinese economy and sharing your knowledge is appreciated.
Percy Bukes (1 year ago)
Great analysis and well thought through arguments.
This is just propaganda. When are they going to reform using member's of falun gong for organ transplants by simply killing them and taking their organs. When are they going to reform and introduce democracy? When are they going to reform and remove corruption from Xi Jinping? When are they going reform and deal with the massive bubbles in the Chinese credit and housing sectors? China is goose stepping into a revolution when 250 million farmers discover that their leaders have failed. Search "Why China Will Not Become the Dominant Power in Asia" in Youtube.
James Zhang (1 year ago)
Dispatched by China CCP as promoter. Period!
孫juchin (1 year ago)
who is she
Carlos Choy (1 year ago)
Yet Jane Austen had nothing to say about the commodification of the "wife". When competitive saving produces losers they simply reallocate wives from away from rural areas, this in turn creates a new supply of urban labour in the long run. Yes, I'm making a joke.
Carlos Choy (1 year ago)
oops spoke too soon. She then talks about Vietnamese women! lol
pst (1 year ago)
Inspite of no freedom of speech China has pulled out 600 million people out of poverty , a great achievement on human rights front .The question is what is more important freedom of speech or food in the tummy? The degree of freedoms in China has dramatically improved in the last two decades. China has better human rights record then USA has. War is the cause of biggest human rights violation and in that USA takes the cake.
Mantaks Wong (1 year ago)
Why university professors and high school teachers in China classrooms cannot criticize their government? They get punishment if they do that. Limiting Chinese people mind thinking is actually blocking China from developing! China was the greatest economy with greatest military power and greatest infrastructures on earth during Emperor Qin Shihuang 200B.C. What's the difference between now and 200B.C.? China dreams for going back to 200B.C.?
Mantaks Wong (1 year ago)
There is no freedom of speech and freedom of press in China. People cannot speak out beyond the line CCP drawn. That means no one can summarize all problems and risks. So, the biggest problem is no one knows how bad the situation is when all problems add together. Reform might not work when insufficient data mislead the government and the general public.
Lin Yang (1 year ago)
Interest groups are important units in many democratic political systems.. It's not the reality in China. Local governments may have certain special interests for the region, then the one party system plays a role here to balance out. We won't see an orange revolution in China because the government is earning higher approval rate among young Chinese. Slower growth does not put people back to poverty. so no need for revolution as long as people have job to do. Don't forget the high rate of female participation in labor force in China, something around 75% comparing 50% in USA. it's very likely to see more women working domestically if any further economic slowdown. Also by demographic trend there should be less labor supply in the future. Health and pension reform now are reaching the bottom level of grassroots, farmers and villagers. The society is now more stable then ever. Certainly there are some people value their individual liberty over nation's collective prosperity and harmonious stability but it's only a mere fraction. Those people make themselves very showy only because they meet the distorted interests of western media or certain foreign governments. With regard to spiritual aspect, as a Chinese myself I have to admit that we Chinese are so pragmatic that for thousands of years there has never been a religion originated in China like in any other great civilization. Well, Taoism and Confucius are rather philosophical. We probably just have less spiritual need. In this populated nation where people are bonded together in many ways,, they need each other more than religious spirits. The unity has been and still is the core value of the foreverlasting Chinese civilization. Democracy doesn't really go with this core value, but the Chinese.meritocracy serve it well.
Lin Yang (1 year ago)
MakTakS Wong or Mantaks Wong - from your multiple postings, you obviously put all your focus on digging out dark sides in China because they are blocked due to lack of freedom of speech and freedom of press. But it seems that the dark sides are not really unknown to you when you're claiming "there have been too many protesting against the Chinese government for different issues in China". . You certainly know more than all the Chinese. Good for you!
MakTakS Wong (1 year ago)
Lack of freedom of speech and freedom of press in China, this is blocking the public to see the dark side of the society. One of China risk is there are too many unknown risks in all classes in the society.
Mantaks Wong (1 year ago)
There have been too many protesting against the Chinese government for different issues in China. The media is not allowed to report all of them. So, there is insufficient data about how stable or how unstable the society is. How about political survey data on different issues in all provinces by third party ? You think CCP will allows different opinions ?
Lin Yang (1 year ago)
Reform = dynamic adaptive policy with long-term strategic view to serve nation's common interests
Francis Fung (2 years ago)
“文化自信”的底气何在    “文化自信”只是一句口号、一个理论名词么?不是,我们提倡的“文化自信”有其深厚根基,是可以真正践行的。因为,我们有优秀传统文化的底蕴,也有在中国革命、建设、改革的伟大实践过程中孕育的革命文化和社会主义先进文化。这种在优秀传统文化基础上的继承和发展,夯实了我们文化建设的根基,奠定了我们文化自信的强大底气。   我们有博大精深的优秀传统文化。它能“增强做中国人的骨气和底气”,是我们最深厚的文化软实力,是我们文化发展的母体,积淀着中华民族最深沉的精神追求。诸如“自强不息”的奋斗精神,“精忠报国”的爱国情怀,“天下兴亡,匹夫有责”的担当意识,“舍生取义”的牺牲精神,“革故鼎新”的创新思想,“扶危济困”的公德意识,“国而忘家,公而忘私”的价值理念等,一直是中华民族奋发进取的精神动力。此外,“天人合一”、“天下为公”的社会理想,“以人为本”、“民惟邦本”的治国理念,“载舟覆舟”、“居安思危”的忧患意识,“止戈为武”、“协和万邦”的和平思想,“与人为善”、“己所不欲,勿施于人”的处世之道,“儒法并用”、“德刑相辅”的治理思想,“和为贵”、“和而不同”的东方智慧,一直是中华民族治国理政的思想渊源。甚至,我们正努力建设的小康社会的“小康”这个概念,也是出自《礼记•礼运》,是中华民族自古以来追求的理想社会状态。   这些千百年传承的理念,已浸润于每个国人心中,成为日用而不觉的价值观,构成中国人的独特精神世界。正如习近平所说,中国传统思想文化“体现着中华民族世世代代在生产生活中形成和传承的世界观、人生观、价值观、审美观等,其中最核心的内容已经成为中华民族最基本的文化基因。这些最基本的文化基因,是中华民族和中国人民在修齐治平、尊时守位、知常达变、开物成务、建功立业过程中逐渐形成的有别于其他民族的独特标识”。   我们有鲜明独特、奋发向上的革命文化。从井冈山精神、长征精神、延安精神、西柏坡精神,到雷锋精神、大庆精神、两弹一星精神,再到航天精神、北京奥运精神、抗震救灾精神,这些富有时代特征、民族特色的宝贵财富,脱胎于中华民族优秀文化传统,同时又在新形势下不断进行着再生再造、凝聚升华,从而为我们在新的历史条件下推进文化建设奠定了坚实基础。   我们还有承前启后、继往开来的社会主义先进文化。它是对中华民族优秀传统文化和红色革命文化的继承和发展,是运用马克思主义为指导所进行的文化创造。社会主义先进文化的明显特征是中国特色社会主义的共同理想、以爱国主义为核心的民族精神和以改革创新为核心的时代精神,以及社会主义荣辱观。在短短几十年的社会主义实践中,我们创造了中国道路、中国模式、中国奇迹,这已充分说明社会主义先进文化是一种有生命力的文化,是一种体现人类文明发展进步方向的文化。   我们的文化自信,不仅来自于文化的积淀、传承与创新、发展,更来自于当今中国特色社会主义的蓬勃生机,来自于实现中国梦的光明前景。改革开放30多年来,我们创造了举世瞩目的成就。国家兴旺,文化必然兴盛,特别是党的十八大以来,我们党把建设社会主义文化强国摆到更加突出的位置,中华文化正迎来一个繁荣发展的黄金期。   文化的优秀、国家的强大、人民的力量,就是我们文化自信的强大底气,文化自信的水之源木之本。正如习近平所说:“站立在960万平方公里的广袤土地上,吸吮着中华民族漫长奋斗积累的文化养分,拥有13亿中国人民聚合的磅礴之力,我们走自己的路,具有无比广阔的舞台,具有无比深厚的历史底蕴,具有无比强大的前进定力。中国人民应该有这个信心,每一个中国人都应该有这个信心。”的确,我们没有理由不自信!   2016年7月1日,庆祝中国共产党成立95周年大会在北京人民大会堂隆重举行。习近平、李克强、张德江、俞正声、刘云山、王岐山、张高丽等出席大会。新华社记者 鞠鹏 摄 Like · Reply · 4 mins Francis Fung Write a comment... Choose File Francis Fung shared a link. 7 hrs ·
Renato Cada (2 years ago)
She is a western imperialist mouthpiece.
simplicity937 (2 years ago)
She is exactly what China needed, soft power w/intelligence in a sexy way.
Your Pal (2 years ago)
UK is pretty a dumpy place to live. The British are obsessed over luxury brands. Getting back to China. It's pretty much a commie dictatorship. They execute 5000 a year for over 50 types of crimes I believe. Slave labor, rich multi-millionaires with corrupted government ties. Heavy pollution. poisoned waters. smog. Neighborhoods mowed down
tttz (2 years ago)
sounds like she is switching back and forth between British and American accents... 學霸女神nonetheless;)
s Tsao (2 years ago)
inevitable as a Chinese studying in US and working in UK...
Your Pal (2 years ago)
she's hot
Wung Hugh (2 years ago)
If she lived today she would certainly revise her opening statement in Pride and Prejudice to "It is universally acknowledged truth, every man in search of a wife must be in possession of a house and a car". And hence competitive saving motive. But this is unlikely going to be a sustainable reason for china's high saving rate, because the Chinese men have found a solution: Vietnamese wife! The what about the vietnamese men?
人參剩粒祖 (1 year ago)
HAHAHA...just like Taiwan men. The good side is there are many beautiful girls in Vietnam.
mrzack888 (2 years ago)
US running an account deficit means it's introduced US dollars and capital to the rest of the world. When Chinese household save, they are NOT exporting capital to the rest of the world. This girl doesn't know how money works. Typical neoclassical economist fail.
Long Nguyen (2 years ago)
please stop all these mouthpieces of the CCP
Long Nguyen (2 years ago)
50cent army??
Huang ZB (2 years ago)
Long Nguyen, Similarly, you stop being a mouth piece of communist party of Vietnam!!!
Long Nguyen (2 years ago)
Incorrect comment on tradition of aggression !!! Throughout Chinese history, every time a dynasty or any political entity consolidated power, the first thing china did was to send conquering armies to attack smaller neighbors. This over time has become DNA of any power in China. This is one of the many attempts of china to send young, bright, western-educated people out to deceive the international communities into the notion of Chinese peaceful rise. Devious stategy and tactics are employed to undermine and ultimately will defeat and dominate the whole world.
Mantaks Wong (1 year ago)
you are right. I call that PR function, trying to fool people!
Long Nguyen (2 years ago)
you already recognized it.   This is not a claim but merely a fact.   No one is trying to negate China's right to rise but it will need to learn doing it in the new world context, not the eternal dream of empire building.
Wung Hugh (2 years ago)
+Long Nguyen Then I must not try to refute your claims, otherwise I would be part of a world dominance conspiracy.
Gilberto Klein (2 years ago)
She comes across as a saleswoman.
James Cao (2 years ago)
Over the weekend of Oct. 17–18 the first good economic news in a long time came out of China: The country announced official growth figures of 6.9 percent annualized for the third quarter, narrowly beating expectations of 6.8 percent. The bad news: This number is likely overstated by several percentage points. The caveat this time is a statistical adjustment, which uses falling prices to boost growth. Excluding this adjustment, the economy only grew 6.2 percent. Even that is optimistic: Unofficial growth estimates range from 2 percent to 5 percent. The most reliable indicator, named after Chinese Premier Li Keqiang, blends railway cargo volume, electricity consumption, and new loan disbursement. It shows growth at around 3 percent.
James Cao (2 years ago)
Please collect more and accurate political and economic information during last two years, to upgrade your speech. China communist structure is not the good model that some countries should learn. Gun in the regime (枪杆子里出政权)is the one of the cruelest dictators Mao's slogan. Reform only remaining in only economy will finally fall.
James Cao (2 years ago)
This is just the first release and expected to see more.
David Lloyd-Jones (2 years ago)
+James Cao  Well, gee, thanks, that narrows it down a bit...  3.5 terabytes, is it?  Cheers,  -dlj.
James Cao (2 years ago)
See Panama document for details. 
David Lloyd-Jones (2 years ago)
+James Cao Gun in the regime (枪杆子里出政权) The conventional English is "Political power springs from the barrel of a gun," and while Mao used it the notion is pretty old and basic. Hobbes' Leviathan is close. The GTrans, and the identical Google Translate, versions are sorta odd. But they're making huge strides, and in a couple of years they're going to have a pretty decent translation engine. James, I thought your comments on economic growth, above, were pretty sensible. What's this "Li Keqiang indicator" thing all about? Best, -dlj.
m-murali Murali (2 years ago)
sad indeed to read all these comments - why not say something that is relevant to the topic of lecture
aliasaila 03 (2 years ago)
I am sorry this is not my focus in this speech.
Your Pal (2 years ago)
ok. she's hot?
aliasaila 03 (2 years ago)
+m-murali Murali and given her family background (father: Liqun Jin, head of AIIB bank that is just what she has to say I guess.) Again, I feel sorry for those who comment "hot phd" "hot chicks". I think porn channel is more suitable for them.
aliasaila 03 (2 years ago)
+m-murali Murali I feel most people here are for a (and I quote) "hot" phd who is a woman and happens to know something about economics. Really disappointing that they value "hotness" more than the content of the speech. With regard to the speech, I'd like to hear more from her on how chinese politics plays a role in the country's economic development, particularly in "reform". She is stealing the concept of "reform" in some ways and it is not fair for this topic.
Peter Hsu (3 years ago)
gmshadowtraders (3 years ago)
Hot chick PhDs are certainly in high demand!
Allen Chea (3 years ago)
Chili Pepper?
Guangpu YANG (3 years ago)
Comment 1: Overall, this talk is not that systematic.  Comment 2: The success of China's economy is the success of the party, of the government; Comment 3: "Explicitly stated in the reform package" does not mean it would be implemented. This can not serve as a support to your argument; She used too lot "I think" or "I believe".  Comment 4: One can see a lot of traces on her shared by a number of officials in China; After all, she was born in such a family
007欧阳清 (8 months ago)
Guangpu YANG very good point. Remember her father is even the head of the new AIIB for the new infrastructure bank
SONGTAO YANG (3 years ago)
+Guangpu YANG 沙发啊!
Yanjun Feng (3 years ago)
I am a huge fans of Keyu Jin!
peter tuann (3 years ago)
hottest PhD geek in ages
fffjkjk jkjkjk (4 months ago)
desperation is not a crime
Italian Spaceboy (7 months ago)
Man, judging from your face, you must be pretty desperate.
Young Charles (3 years ago)
Autocracy country can't reform itself. It's just good for some people and very unhappy country to majority who has no property & no freedom in every economic activity. Communism with Capitalism is nonsense ideology and useless.  
Wung Hugh (2 years ago)
+Choi SangYoung India is democratic but had been implementing largely socialism economy in the past; Germany, Japan, Spain etc. had been autocracy but capitalism. BTW, communism refers to a economy with massive high productivity, which no country can achieve now, maybe you want to say "socialism".
poortaiwanese (3 years ago)
I don't know if her big chest is a positive or a negative...since it downplays her intellect.Its really distracting as well
Jairus Kersey (5 months ago)
you guys are such sexist pigs
Chung Lee (1 year ago)
All Atatime (3 years ago)
I agree. When I get turned on, my mind malfunctions. I can only get graphic images of her breasts and no audio reception.
eiji kenji (3 years ago)
i must admit that the female speaker are very attractive, beautiful i just fell in love with you. please, post more video - your voice is so sexy.
eiji kenji (3 years ago)
why i had never heard anything about "reform, reform" reform"  for western democracy?
hang wan (3 years ago)
+eiji kenji that's why China is growing so fast!
obsidianstatue (3 years ago)
reform has stagnated since the 1960s in the west, while China is under constant reforms, this is all down to attitude, CHinese government do not claim moral superiority and the holder of absolute truth, their pragmatic and strategic thinking makes China one of the most flexible countries in the world, they didnt survive 5000 years for nothing.
eiji kenji (3 years ago)
western democracy in uk - govt cant even grant free education to their student govt are forced to use police force to crackdown their peaceful protest.
Christian Mena (3 years ago)
The best way to live is simple, our fathers has done it for years, growing our own food, using sustainable techniques and living in harmony with everyone. it does work that is the way I live. if you want to learn more check us out Serenity Gardens Eco Village and Osa Mountain Village
ivan date (4 years ago)
those big tits always destroy my concentration 
Kevin Paine (4 years ago)
The most beautiful Dr i have ever met in my life.
Americans For Change (4 years ago)
Yeah bro, chicks dig it when you call them beautiful in YouTube comments, especially the highly educated doctors.
David Tharckabaw (4 years ago)
The tradition of ancestors worship is the cause of gender imbalance in China and Chinese majority societies, because for you to get elevated to the level of a deity, a son is a necessity. Popularize the idea that women are as important as men  in the advancement of civilization and economic growth..
Lei Guo (4 years ago)
1. With removing distortions and more efficient reallocation of the current capital and labour only shared by state owned firms to private sector, there's still more growth yet to come. 2. The only child policy reduces the expenditure of each urban household income,on the other hand this policy brings the interesting by-product of further decline of the saving rate for a urban household for a very long run. 3. The great imbalance between export, consumption and wage growth. 4. Considering China to move from a cheap labour model to a cheap capital model for the future.
WhiteCamry (4 years ago)
No one-party state survives the ten years after hosting an Olympics as the residents of Berlin, Moscow and Sarajevo will attest.   Let’s just hope the powers-that-be in Beijing manage a smooth regime change – for once in their history.
Wung Hugh (2 years ago)
+WhiteCamry Chinese can vote for non-party member representatives. It's just their votes carry little weight on national policy. But at county and village level, votes do weight a lot. You should research before saying something.
Canyu (3 years ago)
+WhiteCamry You are idiot
WhiteCamry (4 years ago)
+Americans For Change You can always vote for a third party candidate, which is something the average Chinese can't begin to imagine for him/herself.
Americans For Change (4 years ago)
Calling the United States a "two party state" is a total joke at this point.
WhiteCamry (4 years ago)
+Paul Lee Which is why I'm hoping the powers-that-be in Beijing make it a smooth regime change.
8Longe8 (4 years ago)
Dear Dr, :) In addition to what you mentioned regarding household savings culturally, I feel an incredibly important motivation is also due to the medical care situation :) In particular, the practice of offering personal incentive$ to staff in order to receive better care:) Providing you have the fund$ to be admitted in the first place, there is still a highly pervasive belief that if you can't give a little extra, you won't receive the best care :(   Thank you for sharing your ideas with us:) Keep up the good work:)
bamb0ozle (4 years ago)
360p in 2014? C'mon LSE, we know you have the money. Invest in some HD cameras.
SpiritsBB (4 years ago)
+KCFA But that's the only way to focus.  Can't get my eyes off her big...
KP (4 years ago)
if you think this is bad... don't try to listen to their podcasts

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