Speaking at the inaugural SMU China Forum, Justin Lin, the former Chief Economist at the World Bank, said that Taiwan needs technological innovations and industrial restructuring as it would help Taiwan’s economic growth if cross-straits markets could be better integrated. In his reply to a question by Central News Agency reporter about Taiwan’s industrial restructuring and wage growth at the meet-the-press session after his speech, he pointed out that any country which wants to maintain wage growth would have to continue to undertake technological innovations and industrial upgrading, and shift its resources from low value-added industries to high value-added industries.