Global Financial Order Faces Unprecedented Challenges Amid Trade Disputes: Ex-PBOC Head

(Singapore) — The existing global monetary and financial order is facing daunting and unprecedented challenges due to regional and global trade disputes, Zhou Xiaochuan, a former governor of China’s central bank, said Saturday.

The normal functioning of the international monetary and financial system has been “disrupted by financial sanctions and other measures contrary to market rules,” Zhou said in a keynote speech at the Singapore Summit, organized by Temasek Foundation, a nonprofit arm of Singapore sovereign wealth fund Temasek Holdings.