Professor Chen Jianqi of the Central Party School: Cryptocurrencies are reshaping the international monetary system; proposes a "dual-engine" Chinese solution.

According to an article published on the WeChat official account of the China Party and Government Cadres Forum, Professor Chen Jianqi, Vice President of the Institute of International Strategic Studies at the Central Party School (National Academy of Governance), points out that the current international monetary system dominated by the US dollar is facing structural contradictions such as the "Triffin dilemma" and the unsustainability of US debt. The decentralized nature of cryptocurrencies is becoming a new driving force for restructuring the system. The article emphasizes that the key to reforming the international monetary system lies in balancing centralization and decentralization, and proposes a "dual-engine" Chinese solution: on the one hand, leveraging Hong Kong's international financial center to conduct stablecoin pilot programs and connect with the international ecosystem; on the other hand, achieving independent innovation through the digital yuan.