He Ping: Promote the Establishment of Rating Agencies Suitable for Emerging Economies and Developing Countries

Source: CBGG   

Published: 2022-4-29

On April 23, 2022, the Academic Seminar on the Impact of US-European Financial Sanctions on Russia and the World and the Reform of the International Monetary System, jointly organized by the Center for BRICS and Global Governance (CBGG) and the World Finance Forum(WFF), was held in Beijing. He Ping, Vice President of the School of Economics and Management and Dean of Finance Department, Tsinghua University, attended the seminar and delivered a keynote speech.

He Ping said that after the conflict between Russia and Ukraine, the financial sanctions from Europe and the United States reflected their control and soft power in the international financial system. In view of the inequality between China and other emerging economies and developing countries in the global financial system and their economic strength, it is suggested that we should compete for more governance rights under the framework of the existing global financial system, such as voting rights in IMF and SWIFT, strive for more power in the existing framework through our economic strength as much as possible, and promote the establishment of rating agencies suitable for emerging economies and developing countries.