社科院程恩富：美元稳定币难解美债困局

Group 1 - The issuance of USD stablecoins may only result in "stock transfer" rather than "new liquidity" [1] - The issuance of stablecoins does not fundamentally address the issues surrounding US Treasury bonds [1] - The current long-term fiscal deficit and high government debt in the US have reached unsustainable levels, impacting the international monetary system dominated by the dollar [1] Group 2 - The development of central bank digital currencies (CBDCs) should leverage blockchain technology to enhance payment efficiency [2] - Digital RMB incorporates the convenience of stablecoins while ensuring security through controllable anonymity and real-time monitoring [2] - The promotion of digital RMB can significantly reduce cross-border settlement costs and further internationalize the RMB [2]