LONDON, Sept. 25 (Xinhua) -- A special lecture on China's economic policy was held at the London School of Economics and Political Science (LSE) on Tuesday.
Zhu Min, former deputy managing director of the International Monetary Fund, introduced the strategic transformation of China's economic development and its global impact at the lecture, which was jointly hosted by the Grantham Research Institute on Climate Change and the Environment, and the Global School of Sustainability, of the LSE.
He noted that the tariff war, initiated by the U.S., had driven up the cost of Chinese goods in the U.S. market, with American consumers and importers paying the price. This not only affected China's economy but also harmed the U.S. economy, and it undermined the stability of global supply chains, Zhu said.
Zhu stressed that in response to rising external uncertainties and demand for domestic structural adjustment, China is accelerating a strategic shift in its economic development, with greater emphasis on expanding domestic demand, technological innovation, and green transformation. He described this shift as both a proactive response to current challenges and an essential path toward high-quality growth.
Nicholas Stern, chairman of the Grantham Research Institute on Climate Change and the Environment, who chaired the lecture, said China's forthcoming 15th Five-Year Plan will be one of the topics drawing the most attention worldwide. He praised China's record of delivering on its policy commitments, noting that as the world's largest developing country and one of the most dynamic centers of technological innovation, China's strategic choices and policy implementation will have a profound impact worldwide.
The event was part of a visit to the United Kingdom and Sweden by a delegation of Chinese economists. During the trip, the delegation plans to hold discussions at the University of Oxford, LSE, the National Board of Trade Sweden, and the Stockholm School of Economics, as well as engage with media outlets such as The Economist and Financial Times.
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