Lou Jiwei quotes:

In 2008, when Lehman Brothers collapsed, we anticipated that Europe was going to have a very different bailout scheme than the U.S. because of their different political systems and different relationships between the central banks and the fiscal authorities.

The euro zone must strike for a better governance structure, and there is no alternative to that. Euro zone countries must either develop an exit mechanism for troubled members, or it should embrace a closer political union: an effective governance structure that is capable of enforcing rules.

Indebted countries can only grow out of their debt troubles through strong economic growth; austerity measures alone cannot work. It is imperative to engage in deep structural reform to spur growth.

Austerity policy without currency devaluation can only hamper economic growth.

Infrastructure investment can boost economic growth and employment, and, in fact, it is fiscally neutral.

There are three main pillars of China's economy. One is export, which is limited by sluggish global demand. The second is investment. In many sectors, there is already too much investment and overcapacity. The third is consumption.