Zhou Xiaochuan: now is one good opportunity to raise one belt, one road.

category:Finance
 Zhou Xiaochuan: now is one good opportunity to raise one belt, one road.


Moreover, the new one of the one belt, one road trend is to emphasize green development and sustainability. Zhou Xiaochuan said that the outbreak has given us a lot of inspiration, making people aware of the importance of social affairs and governance, so the demand for ESG is also increasing.

One belt, one road have an ulterior motive, is also linked to the one belt and one road, some of which sound like ulterior motives, Zhou Xiaochuan said. The epidemic has indeed created difficulties. Some time ago, G20 ministers and central bank governors have proposed debt relief plans. During the epidemic period, the burden of debt service in developing countries can be postponed. This is an effective measure to alleviate the difficulties caused by and aggravated by the epidemic.

But we also need to recognize that there are many reasons for a considerable part of the global debt problem, many of which are unrelated to the epidemic itself. For example, we have seen that Argentinas problems, which are of great concern to the whole world for some time, including those of international organizations, especially the IMF, are not directly related to the epidemic. Of course, the epidemic may aggravate the current problems to some extent, but it is impossible to put all these problems in this epidemic basket to solve them. We still need to go back to each other to find solutions , take different drugs according to the causes and conditions of their own, and where to fall and where to climb up. At the same time, we also hope that in this case, the international institutions can play a greater role and the G20 can play a greater role. Zhou Xiaochuan said.

In response to the problem of high debt and high leverage, Zhou Xiaochuan believes that the experience emerging from the predicament is that these countries need to create productivity, reform the system, give full play to their comparative advantages, and take advantage of the opportunity to integrate into globalization to solve it.

But at the same time, this topic is a relative one, which is actually complementary to the choice of other currencies in the international use. We have always said that if the US dollar, euro, Japanese yen, pound, Swiss franc and so on, the most important thing is the US dollar. If they have some policies that cause peoples confidence in the use of the US dollar to weaken, then they will make people choose other currencies to trade, which provides more opportunities for other currencies. First of all, it involves the stability of the U.S. economy, whether there will be another round of economic and financial crisis, of course, it also involves whether these big countries will use their currencies to impose sanctions on other countries or transactions, which all affect the currency feasibility. There is also a complex issue of global capital flows. The way and extent of global capital flows will also affect the choice of currencies. Zhou Xiaochuan believes that on the whole, if China can do its reform and opening-up work patiently, this matter (RMB internationalization) will gradually move forward, and it is not necessary to rush for success. This article is from Wang Xiaowu, editor in charge of economic report in the 21st century_ NF

But at the same time, this topic is a relative one, which is actually complementary to the choice of other currencies in the international use. We have always said that if the US dollar, euro, Japanese yen, pound, Swiss franc and so on, the most important thing is the US dollar. If they have some policies that cause peoples confidence in the use of the US dollar to weaken, then they will make people choose other currencies to trade, which provides more opportunities for other currencies. First of all, it involves the stability of the U.S. economy, whether there will be another round of economic and financial crisis, of course, it also involves whether these big countries will use their currencies to impose sanctions on other countries or transactions, which all affect the currency feasibility. There is also a complex issue of global capital flows. The way and extent of global capital flows will also affect the choice of currencies. Zhou Xiaochuan believes that on the whole, if China can do its reform and opening-up work patiently, this matter (RMB internationalization) will gradually move forward, and it is not necessary to rush for success.