Kopi Time E036: Eswar Prasad on USD, RMB, and CBDCs

Dr. Eswar Prasad, Tolani Senior Professor of Trade Policy at Cornell University, joins Kopi Time to share his deep insights on the global economic outlook and major developments in the currency world. He goes deep into the arguments over why the US dollar reigns supreme and will likely continue to do so. He walks us through various initiatives that would increase the role of the Chinese RMB in global payments, but is skeptical that it would take up safe haven status. Eswar then delves into the promises and challenges of central bank digital currencies (CBDCs). He goes over the possible applications, as well as regulatory and financial stability concerns involving CBDCs, both in developed and emerging economies.   See omnystudio.com/listener for privacy information.