Tackling the Middle-Income Trap and Aging Population: Thoughts From Two Nobel Laureates (AI Translation)
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- Nobel laureates Michael Spence and Edmund Phelps discuss China's economic future, emphasizing the importance of innovation beyond just high-tech sectors like AI and chips, and addressing challenges such as aging population and the need for a shift towards domestic market and private sector innovation.
- Spence highlights China's leading role in digital technology, AI, and new energy sectors despite challenges like chip production limitations due to US restrictions. He suggests that China will continue to lead globally alongside the US in AI, with both nations facing potential setbacks from trade tensions.
- Phelps stresses the significance of grassroots innovation for sustained prosperity, contrasting with traditional views that focus on scientific discoveries. Both laureates believe that addressing aging population issues and fostering an environment conducive to widespread innovation are key to China's continued economic growth and transition towards higher living standards.
文｜财新周刊 王力为 王石玉
By Caixin Weekly's Wang Liwei, Wang Shiyu
2024年开年，中国稳增长政策持续加码、中央释放出全面深化改革的积极信号，海外经济学界如何看待中国经济前路？
As 2024 begins, with China's steady growth policy continuing to intensify and the central government signaling a comprehensive deepening of reforms, how does the international economic community view the future of China's economy?
在全国两会召开之际，财新专访了在全球商业、创新及管理领域有着丰富履历，又与中国有颇多交集的两位诺贝尔经济学奖得主——迈克尔·斯宾塞（Michael Spence）与埃德蒙·菲尔普斯（Edmund Phelps）。
On the occasion of the National People's Congress, Caixin exclusively interviewed two Nobel Laureates in Economics who have extensive experience in global business, innovation, and management, and have had significant interactions with China - Michael Spence and Edmund Phelps.
今年刚满80岁的斯宾塞，曾在1984年至1990年担任哈佛大学最重要的学院——哈佛大学文理学院（FAS）院长，此后转战西海岸，担任为硅谷育人无数的斯坦福大学商学院院长长达九年。微软创始人盖茨及前首席执行官（CEO）鲍尔默在哈佛求学期间，都选修了斯宾塞的经济学课。
This year, turning 80, Spencer once served as the Dean of Harvard University's most prestigious school—the Faculty of Arts and Sciences (FAS) from 1984 to 1990. He later moved to the West Coast, where he took on the role of Dean at Stanford University's Graduate School of Business for nine years, an institution renowned for nurturing numerous talents for Silicon Valley. Microsoft founder Bill Gates and former CEO Steve Ballmer both took economics classes taught by Spencer during their time at Harvard.
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