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Writing: Bitchain Vision Realm
On September 28, 2024, Zhu Guangyao, former deputy minister of the Ministry of Finance, said at the 2024 Tsinghua Wudaokou Chief Economist Forum that the digital economy has a special asset “cryptocurrency”. In the past ten yearsDestruction and market risks.However, the capital of the United States has undergone fundamental changes since 2024. China wants to study the latest international changes and policy adjustments.Zhu Guangyao bluntlyChina and the United States “the current gap is not involved in China” in cryptocurrencies, and called for face -to -face issues to solve these problems in regulatory supervision.
On September 29, 2024, Bitchain’s vision was first reported to cause a huge responseEssenceBitchain Vision has sorted his speech based on Zhu Guangyao’s discussion part of the discussion part of the discussion part of the “Industrial Change and Economic Outlook” at the round table.
The following is the discussion part of the round tableZhu GuangyaoSpeaking record (the small title is added by the editor):
The general trend of digital economy is the fourth industrial revolution. China stands in the first echelon
The current development of the digital economy should be said to lead the trend and trend of global development.
With the breakthrough of AI technology this year, I think it has entered the fourth industrial revolution, or the fourth industrial revolution has begun.Compared with the past three industrial revolution, this time China is indeed different. We are standing in the first team, the first echelon, or the United States and China are now leading the development of the digital economy.Of course, we must admit the gap between China and the United States, that is, from 0 to 1, the United States does play a leading role.However, China has the largest application scenario of the digital economy, and we have indeed accumulated more in some innovative areas and talent training in technical experts.
Recently, the European Central Bank governor Dragi presided over the European Union’s research report on digital economic productivity competition. He made it clear that there was a gap between the EU and the United States and China.Therefore, Europe must increase huge investment to catch up.
The development trend of the digital economy now should be said to be the fourth industrial revolution in the next ten years, and it will be carried out mature.
A key area of the digital economy is submarine optical cable
Infrastructure of the digital economy.At the front end is the mobile phone that each of us use, which is our platform.The key infrastructure at the back -end is the data center and this optical cable that ensures the operation of the network.The cross -continent optical cable is crucial.In the case of globalization, more than 99%of the data of the current data is operated through submarine optical cables.Now there are 20 largest supercomputing centers in the world. There are 3 in China, 17 in the United States, and one in Europe, nor in Japan.The United States leads in this regard.
Therefore, we are now in the first echelon. It is indeed a new development concept. Under the guidance of the innovation theory of “innovation, coordination, green, openness, and sharing”, we have achieved great achievements since the 18th National Congress of the Communist Party of China.
But we are facing the challenge now.The United States passed the “Clean Network Plan” under the host of the Trump administration in 2020 and is still continuing.A key area is submarine optical cableChinese enterprises have huge engineering capabilities and construction capabilities, but now the US government has made every effort to force American companies to be unable to cooperate with China.
The United Nations already has clear data, that is, 49%of global data is now exchanged in the United States, 24%in Europe, 22%in East Asia, of which China is 9%.However, if the card is broken, it is to decompose the United States and China.They are huge losses.
In the next ten years, the fourth industrial revolution is driven by artificial intelligence. The most dangerous thing is that due to the influence of this decourse, two parallel markets, two parallel supply chains, and the International Monetary Fund Organization is estimated to be the world.7%-12%of the total economy of 105 trillion is 7 trillion to 12 trillion.Therefore, no country can bear such a large economic loss, and its danger is great.Therefore, we must return to this global process, and the important economic policies of the major economies must be communicated closely.
Cryptocurrency: fundamental change in US policy
On the other hand, now the digital economy has a special asset -cryptocurrency.
In the past ten years, the United States has agreed that: 1. It has great destructive power for international anti -money laundering and international counter -terrorism financing.2. It has huge market risks because its valuable fluctuations have a huge impact on the international financial market.
However, this year’s (encrypted) policy has evolved significantly.
First, Republican Party.The Republican party sees the development of cryptocurrencies as its campaign program.At the same time, it is also clearly deducting China.Trump also publicly said in the campaign that the United States must embrace cryptocurrencies and denies that China will replace the United States.His vice presidential candidate Wan Si himself is a venture capitalist, and he holds a large cryptocurrency asset.
Second, administrative authorities.Trump said that on the first day of office, I was going to expel the current US current SEC chairman that restricts the development of digital currencies.But now this SEC chairman has approved 11 Bitcoin ETFs to be listed on the New York Stock Exchange and Nasdaq in January this year.This marks the legitimacy of the US government acknowledged BitcoinEssenceIn July, the Ethereum ETF was listed.
Therefore, even if Trump is accused of the current SEC of the United States that restricts the development of Bitcoin, the attitude of the entire Biden government,In fact, a fundamental change has occurred.
Emerging market BRICSEssenceIn September 2024, President President Russia officially approved cryptocurrencies.South Africa, Brazil, and India have actually been engaged in before.
So, now when it comes to the development of digital currency,Cryptocurrencies do have a negative impact, and we must fully recognize its risks and harm to the capital market.However, we must study the latest international changes and policy adjustmentsEspecially the influence of the US two -party policy, because it is a vital aspect of the development of the entire digital economy.
How to deal with China
Moderator: Thank you Minister Zhu.We recalled that before 2015, it was called mining at that time. China ’s digital currency technology was ahead of the world.Now nine years have passed, how much do you think we worse?
Zhu Guangyao:Mining is actually closely related to the development of chips.
What do we worry about?It was what I said just now that counter -terrorism financing and anti -money laundering have been seriously impacted by cryptocurrencies, especially the violent fluctuations in the capital market.This is what Americans and us insist on saying this many times on G20.
Is there these harms for cryptocurrencies?have.But how to solve the supervision?It should be solved.Our gap now is that you do not participate, but even if you are so restricted, there are trading through underground channels.But there is no ability to use production, because you are prohibited by law.
Therefore, we have to study new issues.It was said according to a bulletin of the Central Political Bureau meeting,To face the problem, discuss it to solveEssence
