Chinese "Bubble Economy"

Professor Li Yining, a top Chinese economist from Peking University, has urged people not to carelessly define the fledgling Internet economy as a "bubble economy".

Speaking at an international forum attended by university presidents on May 9, Li said it is normal if there are some " bubbles" for a new economy during the initial stage.

The forum is part of the China (Beijing) International Hi-Tech Industries Week 2000 in the capital.

Internet technology is high-technology, but it can be employed by all industries, he said, adding "industries will continue, while technology in time is supplanted by new technology".

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