Cao Zhikai Warns of Global Financial Crisis 10 Times Worse Than Dot-Com Bubble in First Half of 2026-2027

According to Phoenix Finance, Cao Zhikai, vice director of the Center for China and Globalization, warned on May 28 that a global financial crisis unprecedented in scale will erupt in the first half of 2026-2027, with destructive impact 10 times greater than the 2000 dot-com bubble collapse.

Cao cited the U.S.-led artificial intelligence development model as the core trigger for the crisis, noting that geopolitical tensions such as the U.S.-Iran conflict could accelerate a convergence of energy, economic, and financial crises.