Zhou Xiaochuan, former governor of the People's Bank of China: The stable dollar may assist dollarization The impact of dollarization on the economy is controversial

Zhou Xiaochuan, former governor of the People's Bank of China, said at the 2025 Lujiazui Forum that the stable currency that has been talked about more now is the US dollar. Although there are other places that want to issue local currency stablecoins, the role they can play globally is still "hard to say", while US dollar stablecoins may have a global impact. Zhou Xiaochuan believes that US dollar stablecoins may assist in dollarization. The impact of dollarization on the economy is highly controversial. Unless faced with extreme circumstances such as high inflation and high debt, dollarization may bring many side effects. He suggested that when talking about the potential role of stablecoins in the future, one needs to have a string in their mind and consider whether to dollarize and the economic impact of dollarization on specific countries. (Shanghai Stock News)