Director of the International Finance Research Office of the Chinese Academy of Social Sciences: Libra's original intention is certainly not to maintain and strengthen the dollar hegemony.

According to China News Weekly, Liu Dongmin, director of the International Finance Research Office of the Chinese Academy of Social Sciences, said that Libra has a relatively large impact on the current international monetary system. Both developed and underdeveloped countries have strict supervision and requirements. In the next few years, Facebook needs to communicate and compromise with governments and international financial institutions, which may change the strategy. Therefore, Libra's landing will not be too fast and will not be too smooth. Since the current ratio of Libra's basket of currencies is still unclear, it is not yet possible to judge whether it will affect the global hegemony of the US dollar, but Libra's original intention is certainly not to maintain and strengthen the US dollar hegemony. China has ample time windows in studying digital currencies. It is not easy for Libra to land, and it will take a long time to mediate with governments and international financial institutions. Therefore, China has plenty of time to develop its own digital stability currency. Previously, the central bank has done a lot of work in digital currency. A large number of private enterprises have accumulated technology accumulation and practical application in blockchain, third-party payment technology and digital currency research and development. Therefore, China only needs appropriate policy adjustments, and it should soon be able to reach the forefront of the world in the development of digital stable coins.