China needs more education, higher wages to advance, Lawrence Lau says

Lawrence Lau, a Hong Kong economist specializing in economic development and East Asian economies, believes China needs to prioritize education and higher wages to further advance its economy. Lau, formerly a professor at Stanford University and vice-chancellor of the Chinese University of Hong Kong, currently holds the Ralph and Claire Landau Professor of Economics chair at the same university. The interview with Lau is part of the SCMP Plus "Open Questions" series. The economist's expertise in East Asian economies makes his insights on China's future development particularly relevant.