GCV Pioneer Community Education Series #137 Reason and Responsibility: How to Build a Better Future in Times of Crisis From Social Unrest in France to National Fiscal Challenges and the Development of the Pi Network Ecosystem Author: Doris Yin We all want a better life. We want governments to provide better social benefits and society to create more opportunities for us. But we must also ask ourselves: Where does wealth come from? Where does government money come from? If everyone wants more but no one is willing to accept responsibility and create value, how long can society continue to prosper? A nation's prosperity cannot depend on benefits and redistribution alone. It also requires productivity, hard work, and the contributions of every member of society. France is a high-welfare country. In the past, when economic development, productivity, and social security could support one another, its welfare system had a sound foundation and provided protection for many citizens. However, times are changing. An aging population, slower growth in the working-age population, and insufficient economic growth are creating new challenges for the existing welfare system. A system that was sustainable in the past may not remain sustainable under changing conditions without adjustments. In the face of these realities, we need rational analysis, shared responsibility, and practical solutions—not endless blame and division. 1. Social Unrest in France: How Can We Express Our Concerns While Accepting Social Responsibility? I understand that people have their own concerns and the right to express dissatisfaction. However, we must recognize one important principle: even when our demands are justified, we must consider how we pursue them and what consequences our actions may bring. Large demonstrations can escalate emotionally. They may also be exploited by individuals with ulterior motives or by opportunists seeking to take advantage of the situation. The original demands can be overshadowed by violence, and peaceful demonstrations can deteriorate into vandalism and looting. When shops, supermarkets, luxury boutiques, public buildings, and historical sites are damaged, we must ask ourselves: Who ultimately bears the cost? First, businesses suffer, and ordinary people suffer with them. When shops are looted or vandalized, business owners face not only the loss of merchandise but also repair expenses, security costs, business interruptions, and lost revenue. If companies no longer consider a location safe for business, they may reduce investment, close stores, or move their operations elsewhere. Supermarkets provide food and daily necessities to local residents. If stores close or leave, shopping becomes less convenient. For people who are already struggling financially, life becomes even more difficult. Second, tourism and a city's reputation can also suffer. France has a rich cultural heritage, historic architecture, and world-famous tourist destinations. Visitors come to experience its history and culture, not to encounter damaged buildings, shattered storefronts, and chaotic streets. If violence and destruction continue, tourists may cancel their trips, and hotels, restaurants, shops, and tour operators may lose business. Employment opportunities can also be affected. Historic buildings can require enormous sums to repair once damaged, and some losses cannot easily be reversed. Third, governments must spend money repairing damaged public infrastructure. Schools, roads, public buildings, and other infrastructure require funding when they are damaged. Yet governments may already be facing fiscal pressure. If they must spend additional money on repairs, cleanup, and security, the financial burden becomes even heavier. This creates a vicious cycle: the weaker the economy becomes, the less money the government has; the less money the government has, the harder it becomes to address public needs; and further economic destruction only makes the situation worse. If our goal is to improve people's lives, we should seek solutions rather than destroy the foundations that allow society to function. 2. France's High-Welfare System: Where Does the Money Come From? France has long maintained an extensive welfare system. A high level of social welfare is not inherently a problem. When the economy generates sufficient resources and society can afford the associated costs, a strong welfare system can protect people's living standards and contribute to social stability. The challenge is that a welfare system must be supported by the continuous creation of wealth. When a country has a relatively young population, a sufficient workforce, strong economic growth, and rising productivity, more workers can contribute through employment, taxes, and social security payments to support pensions, healthcare, education, and other public services. However, when the population ages, the number of retirees increases, the working-age population grows more slowly, and economic growth and productivity gains are insufficient to support rising public expenditure, the existing welfare system faces increasing pressure. More people need pensions and public services, while the number of people creating wealth, paying taxes, and supporting social security may grow more slowly or decline relative to those receiving benefits. When the wealth a country produces is insufficient to support its existing commitments, fiscal pressure becomes increasingly apparent. This does not mean that high welfare is inherently wrong. It means we must face reality: every welfare system requires a sufficiently strong economic foundation. If the wealth created by society grows slowly while public expenditure continues to rise, governments must seriously consider how to improve productivity, expand the economy, increase employment, and maintain sustainable public finances. France's fiscal challenges are also connected to public debt, budget deficits, economic competitiveness, demographic changes, and government spending. They cannot be attributed to a single cause. Some people may question the government's fiscal priorities, arguing that substantial amounts of money have been directed toward defense or support for Ukraine. These are government policy decisions. I will not make unwarranted judgments about them or presume to determine the merits of every individual decision. However, one point must be clear: defense spending serves a long-term purpose. It is necessary to protect national security, safeguard citizens' lives and property, and defend a country's interests. A country cannot focus exclusively on immediate social benefits while ignoring its long-term security. Building and maintaining defense capabilities often requires sustained investment. A nation cannot wait until a serious security threat emerges before beginning to prepare. As for money already spent in the past, whether on defense or other public expenditure, those decisions have already been made and the money has already been spent. We cannot turn back time, nor can we expect every past expenditure to be recovered. Therefore, instead of endlessly dwelling on the past, we should seriously consider what needs to be done next. The past has already happened. What matters now is looking forward, improving national governance, revitalizing the economy, making public finances more sustainable, and improving people's lives. Governments must allocate spending responsibly, and society must understand the realities a country faces. Fiscal challenges cannot be solved simply by cutting one category of expenditure while ignoring deeper problems such as insufficient productivity, population aging, and sluggish economic growth. If the economy develops sustainably, businesses are willing to invest, and workers create more value, government revenues can improve and the welfare system can gain a stronger foundation. 3. Even the Best Cook Cannot Make a Meal Without Rice There is a Chinese saying: Even the most capable cook cannot prepare a meal without rice. No matter how skilled a cook may be, without rice, there is no rice to cook. Likewise, even if a government wants to improve education, expand welfare, increase pensions, maintain national defense, and repair public infrastructure, it must have sufficient financial resources. If economic growth is inadequate and government revenue is limited while public expenditure continues to increase, the government will face difficult choices. If we want better healthcare, better education, more reliable pensions, and safer living conditions, we must consider how to create enough wealth to support these goals. Without rice, we can grow more, buy more, or increase production. But if we destroy the kitchen as well, how are we supposed to prepare a meal? A country needs stable businesses, hardworking people, sustained investment, technological innovation, and higher productivity. Only when the economic foundation becomes stronger can governments gain greater capacity to protect people's livelihoods. We cannot focus only on how much money the government should spend. We must also consider how much wealth society actually produces and how much more it can generate in the future. 4. Population Aging and Retirement: We Must Share the Responsibility Another long-term challenge facing France is population aging and the growing pressure on pension expenditure. As the number of retirees increases while the working-age population grows more slowly or declines, society must confront a fundamental question: the number of people creating wealth, paying taxes, and contributing to pension systems may shrink relative to the number of people receiving pensions. If everyone wants to retire earlier while also demanding higher pensions and better public services, we must ask: Who will work? Who will create wealth? Who will contribute to the pension system? Young people face their own financial pressures. They must pay for housing, raise children, support their families, and contribute through their work and social security payments to the wider system. If there are not enough workers and productivity does not improve, the burden on younger generations may become increasingly heavy. Therefore, we must rethink the relationship between work, retirement, and social responsibility. There is a Chinese saying: “Diligence leads to prosperity.” Hard work means making an effort to create wealth through employment, production, and innovation. For people who are able to work and whose health permits, extending their working lives where appropriate and increasing workforce participation can raise economic output and help ease pressure on pension systems. Retirement policies must also account for differences in occupations, working conditions, and individual health. Nevertheless, in an aging society, we must seriously discuss retirement ages, workforce participation, and how to make pension systems more sustainable. We cannot focus only on how early we would like to retire while completely ignoring who will support us financially after retirement. If everyone wants to retire early but there are not enough people continuing to work, how can younger generations sustain an increasingly demanding pension system? This is not a conflict between young and old. It is a shared responsibility that society must address together. We must protect the well-being of older people while preserving a sustainable economic future for younger generations. 5. National Prosperity Requires Shared Responsibility: Moving Forward Together When a country faces fiscal and economic challenges, we should not remain trapped in endless arguments about the past or constant accusations against one another. Governments have a responsibility to develop sound fiscal policies, improve the business environment, enhance governance, and create the conditions for economic growth. Businesses have a responsibility to invest, innovate, and create employment. Workers have a responsibility to work diligently, improve their skills, and create value. Members of society also need to understand the challenges their country faces and consider the long-term interests of the whole community while protecting their own rights. Defense, education, healthcare, pensions, and infrastructure all require resources. We must address people's immediate needs while preparing for the nation's future. There is a well-known Chinese saying: “The rise and fall of the nation is the responsibility of every citizen.” Its meaning is clear: a nation's future is not solely the responsibility of its government. It is also closely connected to the actions of every citizen. When a country faces difficulties, we should unite, work hard, improve productivity, support economic development, and seek solutions together. We cannot change what has already happened, but through our actions today, we can shape what happens tomorrow. Instead of endlessly arguing over who was right or wrong in the past, we should focus our energy on making the country stronger, revitalizing the economy, and improving people's security and quality of life. True responsibility means not merely demanding that others change, but starting with ourselves and creating greater value for society. 6. Pi Network Is No Different: Everyone Must Participate in Building the Ecosystem The same principle applies to the development of the Pi Network ecosystem. Some Pioneers constantly ask when Pi will increase in value, when the ecosystem will mature, and when others will create opportunities for them. Yet they are unwilling to learn, use Pi, support merchants, participate in application development, or engage in real economic activity. They want a prosperous ecosystem but are unwilling to help build it. They want others to create value while they simply wait to benefit. If everyone wants to receive value but no one is willing to create it, how can the ecosystem grow? An ecosystem needs users, merchants, developers, applications, and real economic activity. Only when more people participate, provide goods and services, and establish practical use cases can the ecosystem continue to develop. This principle is closely connected to the development of a national economy. A country needs workers, entrepreneurs, investors, and innovators. The Pi Network ecosystem needs users, merchants, developers, and builders. Pi Network offers people new economic opportunities. To turn these opportunities into real momentum for ecosystem development, Pioneers must learn actively, participate, support merchants, promote practical applications, and create value through concrete actions. Opportunities become results only when combined with action. An ecosystem grows only when people work together to build it. We cannot spend all our time waiting for others to create opportunities while doing nothing ourselves. 7. True Wisdom: Accept Responsibility and Build a Better Future I have always believed that a wise person must learn to see the bigger picture rather than focus exclusively on immediate personal interests. We can express our concerns, ask governments to improve public services, and raise objections to policies we consider unreasonable. But we must also consider the consequences of our actions and understand what a country needs for long-term development. A country needs a stable business environment, continuous wealth creation, responsible public spending, and the understanding, hard work, and contributions of its people. Likewise, an ecosystem can develop only when people are willing to learn, participate, and build. A nation's prosperity requires everyone to accept responsibility. An ecosystem's growth requires everyone to participate in building it. True progress does not come from continually demanding more from others. It comes from asking ourselves what value we can contribute to society. We cannot change the past, but we can change our actions today and influence the direction of tomorrow. If we want a better life, we must help create the conditions for a better life. If we want a stronger nation, we must share the responsibility of building it. If we want a better future, we must begin working toward it today. Reason helps us understand reality. Responsibility gives us a sense of duty. Action is what truly changes the future. That is the essence of wisdom. — Doris Yin

Doris Yin: Europe Must Unite to Overcome the Debt Crisis — Learn from South Korea and Build a New Financial Future Europe is facing a serious challenge. France and several other European countries are struggling with high public debt, persistent budget deficits, rising borrowing costs, and growing social tensions. The recent student protests in France, which have spread to other European countries, began with concerns about education funding, school conditions, and the cost of living. These concerns deserve attention. However, we must also understand the deeper economic pressures facing governments. When a country carries enormous debt, the government cannot simply spend more money indefinitely without considering how that spending will be financed. Interest payments consume public resources that could otherwise support education, healthcare, infrastructure, and social services. France's borrowing costs have risen sharply, with its 10-year government bond yield exceeding 5% in October 2026. Its fiscal challenges have become more difficult amid political divisions and delays in passing the national budget. This is precisely when a nation needs unity, clear thinking, and responsible action—not escalating conflict that makes an already difficult situation worse. 1. Protest Alone Cannot Solve a Debt Crisis When governments face financial pressure, difficult decisions must be made. Pension reform, public spending, taxation, employment, and economic growth are all interconnected. France has struggled to advance pension reform, including the proposal to raise the retirement age from 62 to 64. Such changes are controversial because they affect people's lives. Nevertheless, when populations age and the number of retirees grows relative to the working population, pension systems face increasing pressure. We must recognize a fundamental economic reality: a country cannot permanently solve its financial problems simply by demanding more spending while ignoring its ability to generate revenue. Violence, destruction, prolonged political paralysis, and declining investor confidence can make recovery more difficult. When investors demand higher interest rates to lend to a government, the cost of servicing public debt rises, placing even greater pressure on public finances. The answer is not to ignore people's concerns. It is to address those concerns while confronting the country's economic reality honestly and responsibly. 2. Learn from South Korea: Turn Crisis into Collective Action When I traveled to South Korea, my tour guide told me about the Korean people's response to the 1997 Asian financial crisis. During that difficult period, millions of Koreans voluntarily contributed their gold jewelry—including wedding rings and other treasured possessions—to help the country address its foreign debt and currency crisis. This became known as the national gold-collection campaign. It demonstrated the extraordinary power of collective responsibility. The campaign alone did not resolve the crisis. South Korea also undertook major financial and corporate restructuring and worked to restore international confidence. Yet the people's willingness to act together remains a powerful lesson for the world. When a nation faces a serious crisis, its citizens must understand the situation, work together, and contribute to economic recovery in practical ways. We should learn from this spirit: instead of allowing disagreements to divide society further, people can unite to improve productivity, strengthen businesses, create employment, develop new industries, and build a stronger economic future. 3. The World Needs a New Financial Paradigm The challenges facing France are not unique. Many countries are dealing with high debt, rising living costs, economic uncertainty, and pressure on public finances. These problems invite us to think beyond conventional approaches and explore new ways to create economic value, expand participation, and strengthen cooperation. As the founder and chairperson of the Global GCV Movement, I believe that Pi Network offers pioneers an opportunity to participate in building a new economic ecosystem. Pi's vision deserves to be studied seriously. Through learning, practical participation, merchant adoption, and the development of useful applications, pioneers can help advance a community-driven economic model. This requires effort from all of us. We cannot simply wait for others to change the world. We must educate ourselves, understand the Pi white paper, support ecosystem development, and turn our collective participation into meaningful economic activity. 4. Every Pioneer Can Contribute We have pioneers across Europe and around the world. Many people have a mobile phone and can dedicate just one minute each day to learning, sharing knowledge, and supporting the development of the Pi ecosystem. Imagine what we can accomplish when millions of people work consistently toward a shared vision. We can educate more citizens about economic participation, encourage merchant adoption, support practical applications, and help communities understand the opportunities offered by emerging digital economies. We must also recognize that meaningful economic progress requires real productivity, useful services, responsible participation, and sustainable economic activity. A better future will not be built by waiting, complaining, or fighting endlessly. It will be built by people who learn, cooperate, create value, and take action. France and Europe need solutions that strengthen their economies and restore confidence. The world needs more cooperation, greater economic participation, and new approaches to creating value. Let us learn from South Korea's spirit of unity, recognize the challenges facing our societies, and work together toward a new financial future. Pioneers, let us study the Pi white paper, support Pi's vision, expand real-world adoption, and contribute our time and knowledge to building a better economic ecosystem. Even one minute a day can become meaningful when millions of people act together. The future belongs to those who recognize the challenges, unite their efforts, and turn opportunities into action. 5. Pi Network Can Give Ordinary People New Opportunities Pi Network can help resolve many uncertainties and give ordinary people opportunities to change their lives. Therefore, I strongly recommend that all pioneers across European countries learn from South Korea's spirit of unity, value the opportunity Pi offers, and actively contribute to the Pi community and ecosystem. Pi Network can provide us with opportunities to work toward financial freedom and create a better future for ourselves and our families. Let us cherish this opportunity, support Pi's vision, and work together to build a new economic future. Thank you so much, everyone. Doris Yin Founder & Chairperson Global GCV Movement