The Dream Factory of China

Source :Shenzhen Daily

Around 300 experts and scholars from various fields attended the Fifth World Finance Forum & BRICS and Global Governance Forum, which kicked off in Qianhai on Saturday.

They had a heated face-to-face and video conference discussion on seven major topics including international patterns and global governance, recovery and new growth of the global economy, and financial cooperation among BRICS countries and between Shenzhen and Hong Kong.

The forum was sponsored by the organizing committee of the World Finance Forum (WFF) and was organized by Qianhai Financial Holdings with the aim of offering advice on methods of continuously improving global economic governance and jointly promoting global economic recovery and quality development through exchanges and sharing among experts and guests.

At the forum, Michael Spence, winner of the 2001 Nobel Prize in Economics, and Li Daokui, director of the Academic Center for Chinese Economy and Thinking of Tsinghua University, had a dialogue on “Where the World is Going.” The dialogue focused on several aspects such as cryptocurrency’s impact, the economic growth of China and the world, and the degree of resilience of China’s economy under the current deglobalization trend.

Spence and Li answered the public’s worries on cryptocurrency’s threat to physical currencies like the U.S. dollar. They agreed that cryptocurrency is only good for protecting the most sensitive transactions and is hard to be scaled up for mass adoption. Therefore, the so-called threat is still remote enough to be seen.

The two also talked about the economic development trends in the U.S., Europe and China, and how these countries can deal with global economic recession.

Tu Guangshao, honorary chairman of Shanghai Development Research Foundation and a senior adviser of the WFF and Center for BRICS and Global Governance, said in his speech that China’s attitude towards globalization is to further open up.

The forum, which ended yesterday, included the opening ceremony and plenary meeting session, one high-level dialogue, two night talks, three roundtable meetings, four summits, and related visit and exchange events.