Chinese economist and professor Lin Yifu, known for his predictions on China's economic development, recently discussed China's industrial policy, the role of the market in resource allocation, and the future of China's economy [5db25d30]. Lin emphasized the importance of an effective government in supporting an efficient market and argued that industrial policy is necessary for economic development [5db25d30]. He also predicted that China will become the world's largest economy by 2030 and rejected the idea that China will follow Japan's path of economic stagnation [5db25d30]. Lin addressed concerns about the lack of confidence in private firms, the need for fiscal and tax reform, and the importance of a unified national market [5db25d30]. He suggested that China should focus on developing its own economy, opening up to international trade, and leveraging its advantages to maintain economic growth despite US economic containment measures [5db25d30].
Chinese netizens have been pressuring Lin Yifu to fulfill his prediction on China's mastery of chip manufacturing technology within three years [3ae02ee4]. While some argue that his predictions should be interpreted with flexibility and not strictly held to a specific timeline, his predictions have brought attention to China's efforts in achieving self-sufficiency in key technologies [3ae02ee4] [5db25d30]. Lin's discussion on China's industrial policy and economic future adds further context to the pressure he is facing to fulfill his predictions [5db25d30].