Lin: Recession risks rising in Europe

More structural reforms necessary to avert crisis, says top economist

Europe now faces the risk of another recession, its third since the global economic crisis of 2008-09, and such a development would lead to a fall in exports and investment from China to the region, said former World Bank chief economist Justin Yifu Lin.

"The risk cannot be removed right now as the European Union (especially the eurozone) has not come up with the requisite structural reforms to improve its competitiveness," Lin, a leading adviser to the Chinese government and professor at Peking University, told China Daily in Brussels.