Budapest, Hungary — The governor of Hungary’s Central Bank, Gyorgy Matolcsy, has called for the reconstruction of the international financial system to address rising geopolitical tensions, slowing global economic growth, and increasing financial risks.
Speaking in an exclusive interview with BizTalk’s Guan Xin, Matolcsy emphasized the urgency of establishing a diversified global financial framework capable of ensuring stability and fostering future economic expansion. “The world is at a pivotal moment,” he said. “We need a new financial system that reflects the realities of the global economy today.”
Matolcsy highlighted that competition with China serves as a catalytic force driving the need for change. He stressed that governments and international institutions must collaborate to develop and agree upon new rules that strengthen global cooperation. “China’s rise has reshaped the global economic landscape,” he noted. “It’s imperative that we adapt our financial systems to these changes to promote stability and growth.”
The governor’s remarks come amid mounting concerns over geopolitical tensions and economic uncertainties worldwide. By proposing a revamped financial system, Matolcsy aims to mitigate risks and support sustainable development. “A consensus on new rules is essential,” he added. “Strengthening cooperation is the only way forward to overcome the challenges we face.”
Matolcsy’s call for action reflects a broader sentiment among policymakers and economists who are seeking solutions to current economic challenges. His insights contribute to the ongoing discourse on how best to navigate the complexities of the modern global economy.
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Hungarian bank governor: Competition with China as catalytic force
cgtn.com
