Zhu Min of Tsinghua University: Libra is not a central bank, but it is sufficient to influence the monetary policy of non-primary countries globally.

According to the First Financial News, on July 25th, at the "2019FinTech Summit Forum", Zhu Min, dean of the National Finance Research Institute of Tsinghua University and former vice president of the International Monetary Fund, said that Libra entered the world through virtual networks and across borders. At the time, it will have a huge impact on the existing sovereign currency. “Libra is not a central bank. If it runs successfully, it can make money, make loans M0 and M2, and it can be extended to M2 through loans. It has the function of monetary policy. Once this system is strong, it is strong enough to influence globally. The impact of the country’s monetary policy on the monetary system will be enormous."