Zhu Jiaming: Digital currency has become an important factor in understanding the modern economy

Babbitt News, on March 27, Zhu Jiaming, a well-known economist and director of the Academic and Technical Committee of the Digital Asset Research Institute, pointed out in a closed-door seminar that digital currencies have become an understanding of modern economy, whether it is macroeconomics or microeconomics. The extremely important factors or elements that cannot be excluded must not underestimate the real and long-term impact of digital currencies on the original monetary theory and the real economy. In this regard, mainstream economists in the world are underestimated. Take monetary policy as an example. Since 2008, the influence of loose monetary policy on the macro economy has been weak, and even low interest rates have been ineffective in stimulating the economy. After the worldwide spread of the new crown virus began, the failure of monetary policy became even more pronounced. This is a very noteworthy historical phenomenon.