The 2026 Lujiazui Forum commenced today, featuring a session on "Reform and Cooperation in Global Financial Governance." Giovanni TRIA, the former Minister of Economy and Finance of Italy, participated in the discussions.
Giovanni TRIA expressed his view that the core challenge is not to replace one dominant currency with another. Instead, the goal should be to foster a more resilient and diversified international monetary system, one that is orderly and founded on cooperation. He also noted that technological advancements introduce a new dimension and present fresh challenges to the international financial landscape.
He highlighted that the crucial issue lies in managing digital innovation and promoting monetary policies that safeguard monetary sovereignty while ensuring financial stability and effective regulation. Giovanni TRIA pointed out that a stable monetary system or order suited for the 21st century cannot emerge from a so-called "unipolar" or merely bilateral negotiating framework. He emphasized that any future discussions on global monetary stability will undoubtedly require multilateral collaboration. This should not be viewed as competition between currency blocs, but rather as a shared responsibility among nations.
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