All along, our thinking has some inertia. For example, we always feel that in order to be in line with international standards, we must fill the so-called gaps in developed countries in Europe and America, but we don't. Fill in the blanks as the pursuit goal. I have always felt that there is something wrong with filling in the blanks, either Europe and America are advanced or we have to fill in.
In fact, today we should not be associated with anything, adapt to the standards of any country, and fill any gaps. Today we should think about how to connect with the future, how to adapt to the standards of the future, and how to fill the gaps in the future. We need to understand what the future is like and what kind of system we want to make.
Summary of ma yun's speech
After World War II, the world needs to restore economic prosperity, and the establishment of the Bretton Woods system has greatly promoted the global economy. Later, after the Asian financial turmoil, the risk control mentioned in the Basel Accord was paid more and more attention, and later became an operating standard of risk control.
The current trend is that the world only talks about risk control, not development, and rarely considers opportunities for young people and developing countries. This is actually the root cause of many problems in the world today. Today, we also see that the Basel Accord itself has greatly restricted the overall innovation in Europe, especially in financial digitalization.
Compared with an old people's club in Basel, the problem to be solved is the aging and complex financial system that has been running for decades. However, the problem in China is just the opposite. It is not the financial systemic risk, but the risk of the lack of financial ecosystem.
China Finance, like other emerging developing countries, is a teenager in the financial industry. It has not developed a mature ecosystem, and it has not fully flowed.
Big banks are more like arteries of rivers and blood, but we need lakes, ponds, streams and rivers, and all kinds of swamps. Without these ecosystems, we would die of waterlogging and drought, so what our country lacks today is the risk of financial system, not the systemic risk of finance.