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Prof. Michael Spence explains why increased consumption will help China's economy

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Excerpt from China Daily -- "Michael Spence, a Nobel prize winner and now professor of economics at the Leonard N. Stern School of Business at New York University, is one who believes Lin is wrong to downplay the importance of domestic consumption. 'The supply-side shifts are important and necessary, but, for China, not sufficient. The demand- and income-side restructuring is also a key component,' he says."

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