Australian economist: Avoiding nonsense concepts of mainstream Western economics is one reason why China has succeeded

"I think that's the wisest thing China can do to insulate itself from the chaos caused by the Western, particularly the American economy."

In a recent exclusive interview with China News Network' News Lounge, Australian economist Steve Keen shared his in-depth analysis of global economic trends and China's development model.

He predicts that the fallout from the ongoing global crisis will persist for years, pointing to profound vulnerabilities within the global production system. Against this backdrop, he thinks one key driver of China's economic success lies in its avoiding the nonsense concepts of mainstream economics.

Addressing some narratives hyped repeatedly by the West, he notes that China should "ignore them arguing about 'overcapacity' " and "continue doing what you're doing."