“十五五”时期或将面临哪些国际挑战？陈文玲：全球货币体系调整、美股泡沫等七大风险需警惕

Group 1 - The conference "Qihang·2025 Financial Annual Meeting" was held in Beijing, focusing on the theme of "New Starting Point, New Momentum, New Journey," with over 100 guests and more than 500 financial institutions and listed companies in attendance [1] - Chen Wenling, Deputy Director of the Academic Committee of the China International Economic Exchange Center, discussed potential international uncertainties, including "gray rhinos" and "black swans," that may impact China's economy and the global economy during the 2026 and "15th Five-Year" period [1] Group 2 - Seven major international risks were highlighted by Chen Wenling, including risks from economic bubbles in certain countries, significant adjustments in the global monetary system, uncertainties in China-U.S. relations, geopolitical tensions, structural changes in the global energy landscape, risks in the Japanese economy, and risks from extreme weather and public health events [3] - Specific risks related to the global monetary system adjustment were discussed, including potential over-tightening or over-easing by the Federal Reserve, the rapid expansion of virtual currencies, the accumulation of bubbles in the U.S. stock market, and the potential risks from financial derivatives [3] - The global trend of de-dollarization is noted, with 159 countries entering this wave, and the U.S. introducing stablecoins linked to the dollar to counteract this trend, indicating significant adjustments and changes in the international monetary system [3]