Amidst increasingly complex US political conditions and a weakening US dollar index, will the US dollar lose its status as a global reserve currency? With US stocks continuing to rise, when will the bubble of the "Big Seven" burst? On October 23rd, at the 2025 Bund Annual Meeting, Stephen Roach, senior fellow at the Tsai Center for China Studies at Yale Law School, stated in a group interview with The Paper and other media outlets that despite facing numerous pressures this year, the US dollar will maintain its status as a global reserve currency in the short term, and the current weakness is likely just a short-term correction. Regarding US stocks, Roach believes that current valuations are largely driven by the "Big Seven" and other AI-related stocks, and this bubble is a cause for concern. Roach also discussed the risks of cryptocurrencies. He believes that compared to stablecoins, cryptocurrencies like Bitcoin are more speculative and "a ticking time bomb."