在以前举行的中国经济50人论坛2009年年会上，论坛成员、中国社科院金融研究所所长李扬表示，全球化虽然不会终止，但可能会有相当长时间的停滞。全球的贸易保护主义可能比想象中的严重。

Before the Chinese economy 50 people BBS 2009 annual meeting,Member of the BBS/Director of the institute of Chinese academy of social sciences financial 李扬 said,Although globalization won't be terminated,But there may be quite a long period of stagnation.Global trade protectionism is likely to be worse than expected.

　　就全球化趋势问题，李扬表达了较为悲观的看法：当危机侵入实体经济的时候，在就业保护、资本保护等方面，贸易保护主义已经花样翻新了。在国内的政治、经济的压力面前，许多发达国家会把精力更多地用于解决国内的压力。全球贸易保护主义会比想象中的严重一些；本轮全球化的推动力是金融，而本次危机又是由金融引发的。目前是全球的金融体系出了问题，而现在还看不到修补的方向，目前建设性的意见也比较少。

On the question of globalization,李扬 expressed more pessimistic view:When the crisis into the real economy,In employment protection/Capital protection, etc,Trade protectionism has new guise.In domestic politics/Before the economic pressure,In many developed countries will have more energy to solve the domestic pressure.Global trade protectionism will serious than imagination;This is the driving force of financial globalization,And this is caused by the financial crisis.At present is the world's financial system is wrong,And now still can't see the direction of the repair,The constructive Suggestions also is less.

　　李扬表示，“我们必须承认今后相当一段时间内是多元化货币。而接下来引出的问题是，几种关键货币之间的汇率怎么安排。”他说，最近一二十年来，大家一般认为，汇率的自由浮动应当是追求的方向。但这次危机暴露出，汇率的变动不均是热钱乱闯的根本原因。现在有很多改革方案其实都看到这个问题，希望通过全球统一货币来加以解决，但这并非易事。所以，几个关键货币之间，我们认为必须让它们之间保持一个稳定的、透明的、可调控的汇率制度。

李扬 said,"We have to admit the diversified quite a period of time is money in the future.And then lead to the problem is,Several key exchange rates between the moneys of how to arrange."He said,The last one hundred and twenty years,People generally believe that,Exchange rate to float should be the pursuit of the direction.But the crisis exposed,The change of exchange rate inequality is the root cause of hot money disorderly way.Now there are a lot of reforms in fact see the problem,Hope that through the global unified currency to solve,But it is not easy.so,Several key between currencies,We must think to keep a stable between them/transparent/Can control the exchange rate system.

　　他强调，汇率问题涉及到的第二个层面的问题，是广大的非关键货币国家受制于关键国家的货币政策，完全浮动汇率会出现何种后果。对中国而言，汇率的稳定对国家的发展显然是有利的。但现在最大的问题在于汇率不平衡，责任全部推给非关键货币国家。

He stressed that,Exchange rate issue relates to the second level of problem,Is the large number of non-key key currency country subject to the monetary policy of the country,Fully floating exchange rate will appear what kind of consequences.For China,The stability of the exchange rate is obviously beneficial to the development of the country.But now the biggest problem lies in the exchange rate not balance,All responsibility to bundling currency country.