Asia’s first World Bank chief economist reveals little of himself but has much to say on the world economy

HE is the first Asian to be the World Bank’s chief economist.

And he is truly economical with words about his own life.

Professor Justin Lin Yifu, 57, who was in Singapore yesterday to deliver a lecture, Beyond Keynesianism: A Global Challenge For Development, under the Eminent Speaker Series 2009, holds one of the world’s most influential posts in economics.

The China national guides the World Bank’s intellectual leadership and plays a major role in shaping its global, regional and country research agenda.

The Taiwan-born Prof Lin’s election in June last year may herald leadership changes in the Bank and other financial institutions. A former World Bank employee said it strengthens the prospect of more Asian representation in the Bank, including a possible Asian-American president some day.

Traditionally, the Bank’s president has come from the US, while the managing director of the International Monetary Fund has been European.

Prof Lin’s election reflects China’s growing clout.

He told reporters yesterday: “Twenty, 30, even five years ago, I did not expect myself to get this opportunity. This chance reflects the understanding that we are now in a globalised world, a multilateral world.

“To help developing countries is the mandate of the World Bank... to appoint someone from a developing country can help give (the Bank) a better chance to understand the opportunities and constraints faced by developing countries, and I think my appointment can give a better understanding of the work needed between developed and developing countries.”

Another former Bank employee, who did not want to be named, said Prof Lin was “sharp, non-controversial and does his homework”.

“He is popular within the Bank, and the president, Robert Zoellick, likes him. His alleged defection has also not put him in a bad light among Taiwanese.”

But Prof Lin, who looks trim and fit at 57 years, shared little of himself with reporters.

Newspaper reports say that while still a captain in the Taiwanese army, he defected to China in 1979 by swimming nearly 2.3km from the island of Kinmen to the Chinese coast.

In 2002, Prof Lin, who was an economic adviser to Chinese premier Zhu Rongji and an economics professor at Beijing University, revealed his identity and said he hoped to return to Taiwan for his father’s funeral.

Public pressure

The Taiwanese government initially approved his request on humanitarian grounds but bowed to public pressure later and backed down.

When asked about the “swimming” incident, ProfLin would only say that he did not betray his country.

“I am a Chinese... Taiwanese are Chinese,” he said.

His reluctance to talk about himself was less about reticence and more about how carefully he chooses what to disclose.

The father of two grown children would reveal only that he sometimes cooks in the evening, and listed chicken rice, bak kut teh (pork rib soup) and fried noodles among his best dishes.

Is it true that his wife still sends him an SMS every night whenever he is overseas, as reports have suggested? Prof Lin said that was “very personal”.

He said he is lucky to have a good wife who takes care of their children and grandsons, and who is “not very demanding”.

He said he tries to get his wife, who did not accompany him to Singapore, a gift from every country he visits.

So what will be buy her from Singapore?

“It’s a secret. It should be a surprise.”

Thoughts on the local and global economies

“The Singapore economy is remarkable. The growth fundamentals are sound, the Government is effective and the business community is very agile and has responded effectively and quickly to thenewworld situation.”

– Prof Lin on Singapore’s ability to get through the financial crisis

“How large the impact will be depends on how severe the situation is, and how effective is the action by the government and the common people.”

– His comments on the impact of the Influenza A (H1N1) virus outbreak on South-east Asian economies

Courtesy of The New Paper, 26 June, 2009

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