Zhou Xiaochuan, former governor of the People's Bank of China: The US dollar stablecoin may assist in dollarization, and the impact of dollarization on the economy is highly controversial.

2025-06-18 08:29:12

Gate News bot news, former Governor of the People’s Bank of China Zhou Xiaochuan stated at the 2025 Lujiazui Forum that the stablecoin that is currently being discussed more is the US dollar stablecoin. Although there are other places that want to issue local currency stablecoins, their potential role in the global arena is still “hard to say,” while the US dollar stablecoin 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 dire circumstances such as high inflation and high debt, the side effects of dollarization can be numerous. He warns that when discussing the potential role of stablecoins in the future, one needs to have a “string in the mind” to consider whether to pursue dollarization and the economic impact of dollarization on specific countries.

Source: Jinshi

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