China registers exceptional growth in 4 decades at the cost of widespread corruption, income disparities: Expert

BEIJING: China emerged as the world’s second-largest economy by registering exceptional growth in the last four decades but at the cost of widespread corruption, environmental degradation, food safety issues and income disparities.

Professor Justin Yifu Lin, formerly Senior Vice President and Chief Economist of the World Bank, 2008-2012, in an analysis explained the institutional price China paid for its economic success, reported Financial Post.