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Wu: New Economic Opportunities Fall On China
Wu Jinglian, famous Chinese economist, who first ever predicted Internet bubble would snap sooner or later, now begins to advocate the new emerging economy.
Wu said at the China Beijing International Hi-tech Industries Week that when many people took a bleary view about the new economy, he personally held that it is groundless to give such conclusion. Nasdaq bubble broke is, on the contrary, a good chance for China.
Wu said that every new technology would pop defects at initial stage, the new economy, as represented by the Internet economy, makes no exception. But from a long-term of view, the new economy has an active positive effect on people's life, while Internet technology has a potentiality far from being fully developed, particularly in China. Market fluctuation in Western countries' new economy does not necessarily mean it has entered a time of long-term recession, everything will be back to normal after adjustments made.
Wu's encouragement toward China's new economy is based on: first, not much setback but some aftereffect has China met in Internet economy. High-tech industry in China is still in a stage of growth, China has a great chance. Second, to some extent, China would get improved in obtaining hi-tech talents and raising funds. The wise-money in investor's pockets are waiting for good chance. Third, the new economy has its potentials far from being fully tapped and is predicted to rebound by the end of the year or no more than a year later.
By PD Online staff member Li Yan
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