Leading Chinese economist Zhu Min has warned that Facebook’s new Libra currency should not be taken lightly. He was talking yesterday at a World Economic Forum event in Dalian China. Min is the Dean of the National Institute of Financial Research and a former Deputy Managing Director at the IMF.
According to
Sina Finance, Min said Libra “will have a big impact on the existing financial system, the monetary system and even the future reserve system.”
He also highlighted that
Libra is still at a very early stage with many potential problems such as leverage, managing reserves, and a centralized management mechanism.
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