Latest from Eswar Prasad
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.
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.
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.
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.
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.
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.