Former Governor of the People's Bank of China: We need to be vigilant about the impact of crypto assets on global financial stability and security

ChainCatcher news, Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia and former Governor of the People's Bank of China, delivered a New Year outlook, pointing out that the world will face four major changes by 2025: the international environment will remain turbulent, uncertainty in global economic recovery will increase, rapid development of AI technology will bring both opportunities and challenges, and the climate change crisis will intensify. He also emphasized three unchanging trends: the continuous strengthening of global South countries, Asia's promotion of inclusive economic globalization, and China's deepening of reform and opening up.

Zhou Xiaochuan mentioned that global public debt is about to exceed $100 trillion, which will increase the external financing costs and exchange rate depreciation pressures for emerging markets and developing countries, posing challenges to the fiscal sustainability of developed countries. The impact of digital encrypted assets on global financial stability and security needs to be monitored.