Speaker: Eswar Prasad
Eswar Prasad is Tolani Senior Professor of Trade Policy in the Charles H. Dyson School of Applied Economics and Management, part of the College of Agriculture and Life Sciences (CALS) and the Cornell College of Business (CCB). Prasad holds the New Century Chair in International Economics at the Brookings Institution and is Research Associate at the National Bureau of Economic Research.
Abstract: China’s growing global prominence is taking the world by storm and reshaping global finance.
With the recent rise in the renminbi, China's currency since 1949, China’s international influence has expanded and its currency could someday even rival the euro and the Japanese yen. However, many pitfalls could lie ahead for China’s economy and currency if its leadership abandons important economic and institutional reforms.
In a Chats in the Stacks book talk, Eswar Prasad, one of the world's leading experts on international finance and the Chinese economy, will present his new book Gaining Currency: The Rise of the Renminbi (Oxford University Press; October 2016). His book provides new perspectives on the renminbi’s role in global finance, and he makes a compelling argument that it does not pose a serious challenge to the U.S. dollar's dominance, even though China is experiencing ever-expanding prosperity. For more information about the book, visit GainingCurrency.com.
Location: Mann Library, Stern Seminar Room 160
Cornell Institute for China Economic Research (CICER)
IO Seminar Series
The Emerging Markets Institute