#Zhou Xiaochuan Discusses Global Debt Risks#

Zhou Xiaochuan, at the "Boao Forum for Asia Annual Conference 2025", pointed out that global public debt is about to exceed $100 trillion, which will bring greater external financing costs and currency depreciation pressure to emerging markets and developing countries, while also posing challenges to the fiscal sustainability of developed countries. He particularly emphasized the need to be vigilant about the impact of digital encrypted assets on global financial stability and security, and called for enhanced international cooperation on the regulation of encrypted assets and the improvement of digital currency trading regulations. Zhou Xiaochuan believes that in the current context of international economic recovery full of uncertainties and intensifying debt crises, encrypted assets may play a complex role, especially in the absence of effective regulation, which may exacerbate systemic financial risks. He pointed out that the world will face profound changes and challenges in 2025, including continued uncertainty in the international environment, intensified competition among major powers, setbacks in economic globalization, uncertain global economic recovery, forced reshaping of industrial chains, opportunities and risks brought by the rapid development of general artificial intelligence, and intensifying climate change crises. At the same time, he also emphasized that the trend of accelerating growth of countries in the Global South will not change, the direction of Asian countries promoting inclusive and equitable economic globalization will not change, and China's determination to reform and open up will not change.