As U.S. financing shifts from official reserve managers toward private and increasingly market-sensitive investors, the resilience of the dollar-centered financial system will depend more heavily on who absorbs new Treasury supply, at what price, and under what conditions.

Stablecoin regulation should make the monetary promise credible through sound reserves, reliable redemption, resilient infrastructure, and stronger safeguards as scale and systemic importance increase.

Artificial intelligence could reshape development by lowering the cost of expertise, but its productivity gains will ultimately depend on infrastructure, institutions, human capital, and the ability to adapt technology to local conditions.