#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 impact of digital crypto assets on global financial stability and security, arguing that in the absence of effective regulation, crypto assets could exacerbate systemic financial risks. Zhou Xiaochuan called for enhanced international cooperation on crypto asset regulation and the improvement of digital currency trading behavior norms to address potential risks. Furthermore, he noted that the world will face numerous challenges in 2025, including continued uncertainty in the international environment, intensified competition among major powers, setbacks in economic globalization, uncertain global economic recovery, industrial chain reshaping, opportunities and risks brought by the rapid development of general artificial intelligence, and the escalating climate change crisis. Despite these challenges, he also highlighted positive factors such as the accelerated growth of Global South countries, Asian countries' efforts to promote inclusive and equitable economic globalization, and China's determination to continue its reform and opening-up.