On May 10, Ding Zhijie, Director of the Financial Research Institute of the People’s Bank of China, shared his views on economic theory and the US debt issue at the seminar on the reform and development of China’s capital market and the theoretical logic of China’s capital market (10 volumes). In his speech on “How US Foreign Debt is Formed”, he emphasized that the high net foreign debt of $24 trillion by 2024 is a major hidden danger for the United States and even the world. The fault lies not in the fact that the US dollar is an international currency, but in the abuse of international currency privileges by the United States; The United States needs to adjust, that’s right, but the mistake is letting other countries foot the bill. (Shanghai Securities News)
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