Michael Spence, a Nobel Laureate in Economic Sciences, told the Global Times on Monday on the sidelines of the 2026 Tsinghua PBCSF Global Finance Forum that the positive side is that China has invested successfully and heavily in science and technology that drives long run growth. "That"s just obvious to everybody who spends any time here,"" he added.

　　"A typical pattern in many countries is the short run looks good, but the long run looks more kind of questionable. It"s kind of the opposite in China - in the long run, it looks pretty good," said Spence, noting that China"s economic contribution to the world "will continue to be very large."