Eswar Prasad

Eswar Prasad

Eswar Prasad is Professor of Trade Policy at Cornell University’s Dyson School of Applied Economics and Management and a senior fellow at the Brookings Institution. He is the author of Gaining Currency: The Rise of the Renminbi.

Latest from Eswar Prasad

Opinion | Beware of overestimating global economic recovery from coronavirus

Despite some good news, many economies across the globe have flat or negative growth while central banks have fewer tools to respond than in 2008. Governments have only one good option – further aggressive fiscal stimulus.

16 Oct 2020 - 10:25PM

Despite some good news, many economies across the globe have flat or negative growth while central banks have fewer tools to respond than in 2008. Governments have only one good option – further aggressive fiscal stimulus.

Beware of overestimating global economic recovery from coronavirus
The View | Why China’s digital currency won’t threaten US dollar dominance

China’s digital currency and its cross-border payments system will enhance the renminbi’s role as an international payments currency if Beijing continues to reform financial markets and remove restrictions on capital flows. But the dollar will remain the global reserve currency of choice.

27 Aug 2020 - 10:27PM

China’s digital currency and its cross-border payments system will enhance the renminbi’s role as an international payments currency if Beijing continues to reform financial markets and remove restrictions on capital flows. But the dollar will remain the global reserve currency of choice.

Why China’s digital currency won’t threaten US dollar dominance
Economic reforms alone won't put the renminbi in the dollar's league

Scarcely a week passes without news about the ascendance of the renminbi. But China has a long way to go before its currency can rival - let alone displace - the US dollar as the dominant global reserve currency.

27 Jun 2016 - 11:50AM

Scarcely a week passes without news about the ascendance of the renminbi. But China has a long way to go before its currency can rival - let alone displace - the US dollar as the dominant global reserve currency.

Economic reforms alone won't put the renminbi in the dollar's league