Interview: China's big economic shifts extraordinary, says British economist

BEIJING, July 17 (Xinhua) -- China's big economic shifts and the extraordinary improvement of its people's lives are the most exciting aspects of the country's development, John Ross, senior fellow of Chongyang Institute for Financial Studies at Renmin University of China, has said.

China has transitioned from being one of the world's poorest nations to a state of moderate prosperity within a single person's lifetime, the British economist told Xinhua in a recent interview.

"There's never been anything like that," he said.

Ross, also a former director of economic policy for the mayor of London, said he became very interested in China following the third plenary session of the 11th Communist Party of China (CPC) Central Committee in 1978, adding he has since held high expectations for the country's development.

"In 1992 ... People asked me: 'Why are you so interested in China? It's a poor country. You should be more interested in Germany and Japan.' I said: 'China's economic policy is absolutely correct from the point of economic theory. It's gonna be a huge success,'" he said.

Having worked in a Chinese university since 2009, Ross has witnessed firsthand the improvements in Chinese people's lives over the years.

A frequent traveler between Beijing and Shanghai, the British economist used to spend the greater part of a day on the journey, but now he feels he barely loses any time thanks to high-speed trains.

"Once I'm in the high-speed train, it's like being in my office, because I can plug in the computer, turn on the Wi-Fi and be connected," said Ross, adding that the movement made possible by improved transportation in China has effectively made the country feel smaller.

China's technological advancement has also impressed Ross. China is not only moving up the value chain but also excelling in sectors with strong growth prospects, he said, highlighting the country's success in areas such as telecommunications and green energy.

"I've very carefully looked at which cars have got blue number plates, which shows that they are running internal combustion engines, and which have got green number plates, which means that they're new energy vehicles (NEVs)," Ross said, adding it's fascinating to see many taxis in Beijing are NEVs.

"I've been writing on China's economy for more than 30 years and about every two years, there's something published saying that China is about to collapse. It never does," he said.