Economy > Macro

Cambridge scholar remain confident in China's long-term economic growth

Xinhua News,by Gu Zhenqiu
2020-03-09 01:31

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Despite the short-term negative impacts brought by the COVID-19 outbreak, the Chinese industrial economy could return to a healthy state and "I remain confident about China's long-term economy to be successful", a Cambridge University expert told Xinhua in a recent interview.

Based on what he had seen about China in the past 30 years, Professor Alan Barrell said China's industrial base has developed impressively as hugely efficient and effective, well focused and well resourced.

"The structure of Chinese industry should enable rapid 'catch-up', provided that industrial activities in other dependent nations could also recover well," said Barrell.

Speaking of China's measures in fighting COVID-19, Barrell said "China acted firmly and wisely once it was clear what a big threat coronavirus posed...The WHO (World Health Organization) has indicated China should be congratulated on the way the epidemic has been brought close under control."

To combat the virus, China built the makeshift Huoshenshan (Fire God Mountain) Hospital in 10 days in Wuhan, the epicenter of the virus outbreak in central China's Hubei Province. Days later, another makeshift hospital, the Leishenshan (Thunder God Mountain) Hospital, was delivered and put into use in Wuhan in less than two weeks.

With a total capacity of 2,600 beds, the two hospitals have been playing a vital role in China's fight against the virus.

"China's well-coordinated actions with great resolve and courage has restricted activities and put the control of the outbreak as the first priority even at the expense of the economy. Controlling the outbreak has been vigorously managed," he said.

"The signs are that China has managed to bring the epidemic to a controlled state and the severe actions taken seem to have been justified," he said, adding that "other nations can learn from the experience of China in these difficult circumstances."

"The general view is that China has acted with great resolve and effectiveness in avoiding what may have been a far greater tragedy," Barrell noted.

As to the prospect of China's economy growth in the long run, Barrell is confident that it would be successful.

"I remain confident about China's long term economy to be successful...China has become, in the past 20 years, a technology leader and has invested very significantly in R&D (research and development)."

"In many areas, China is already considered to be a 'tech leader'. For example space travel technology, artificial intelligence, machine learning, robotics, aspects of genetic knowledge, computer science, telecommunications," said the professor.

In terms of economic cooperation between Britain and China, especially in the "post-Brexit" era, Barrell took Cambridge as an example and said "it is important that connections and communications are encouraged not only at national government level but also at regional and local levels."

"We have in Cambridge a working model of how a region -- strong on innovation, (sharing) close understanding and collaboration between local government, industry, communities and people with China, Chinese industry, Chinese investors -- has created one of the fastest growing regions in the UK," he said.

"In Cambridge, the investments of Huawei, TusPark and Tencent are just some that have made a major impact on the economy...the investment goes beyond money to human resource engagement and knowledge transfer from China," he said.

"Only through the encouragement and promotion of successful models of 'China-UK collaboration' can we find the best ways to move forward and optimize the great strengths of China and the UK to the benefit and best outcomes for citizens of both nations," he added.
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