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    Eswar Prasad

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    • Thursday, 2 November, 2023
      Indian business & finance
      India must avoid squandering its economic potential

      The nation’s strengths are many but endemic corruption and weak job growth threaten

      A vendor weighs vegetable next to an advertisement of Paytm, a digital payments firm, hanging amidst his vegetables at a roadside market in Mumbai, India,
    • Sunday, 23 July, 2023
      Global Economy
      Central banks must not be blind to the threats posed by CBDCs

      The challenge is to make digital currencies viable without letting them displace private payments altogether

      Selection of cryptocurrency token coins
    • Wednesday, 3 May, 2023
      Digital currencies
      Central banks bow to the inevitability of digital currencies

      Retail demand is still scant, but careful design can take advantage of their merits

      Nigerian president Muhammadu Buhari and central bank governor Godwin Emefiele launch the eNaira in 2021. Poor infrastructure to support the CBDC limited its adoption
    • Monday, 17 April, 2023
      Global Economy
      Rumours of China’s economic demise may be greatly exaggerated

      From ‘miracle to malady’ — but how bad is it really?

    • Friday, 16 December, 2022
      Chinese economy
      Despite abandoning zero-Covid, China’s economic challenges are huge

      Beijing’s goal of a shift to greener high-tech industry requires a much more efficient financial system

    • Saturday, 8 October, 2022
      Global Economy
      Confidence slumps around the globe as cost of living crisis bites

      High food and energy prices have fuelled business and consumer pessimism, Brookings-FT tracking index shows

    • Monday, 15 August, 2022
      CryptofinanceCryptocurrencies
      Crypto poses serious challenges for regulators

      There are important questions to answer on systemic risk, market integrity and consumer protection

      Representations of cryptocurrencies
    • Tuesday, 31 May, 2022
      Cryptocurrencies
      DeFi’s promise of democratising finance remains a distant reality

      Decentralised finance risks concentrating economic power and exacerbating existing inequities

      Illustration of cryptocurrencies Bitcoin, Ethereum and Dash plunged into water
    • Monday, 14 February, 2022
      Digital currencies
      Digital currencies carry threats as well as promises

      The proliferation of new financial technologies calls for better cross-border regulation and supervision

      A display of cryptocurrency Bitcoin in Hong Kong. A big poster of a close up of image of George Washington from the dollar bill wearing darkglasses with the Bitcoin logo on the lenses. Two people are walking in front of the poster
    • Thursday, 20 January, 2022
      Chinese economy
      China needs a new growth model, but that requires serious reform

      The government must clearly define its role in the economy and financial markets

      Shoppers pass a map of Evergrande’s commercial estates outside a mall in Beijing
    • Thursday, 21 October, 2021
      Decentralised finance
      DeFi is a reminder of the risks of unfettered financial engineering

      While they rely on libertarian ideals of self-governance, nascent blockchain systems are vulnerable

      A graphic shows a woman using a screen to explore decentralised finance products. Sophisticated hackers have been able to take advantage of vulnerabilities in DeFi products
    • Thursday, 12 August, 2021
      Fintech
      Governments must help manage the risks of fintech

      Even the relatively low cost of entry into new digital markets does not guarantee fair competition

      The Alipay service is displayed on a food stall in Hangzhou, China. Fintech is putting banking and other services literally in the hands of consumers
    • Friday, 9 August, 2019
      Currency wars
      There will be no winners in a currency war   

      Devaluation may seem tempting, but it helps neither China nor the US 

      Specialists Meric Greenbaum, left, and Thomas McArdle work on the floor of the New York Stock Exchange, Tuesday, Aug. 6, 2019. Stock markets turned higher on Tuesday as China stabilized its currency after allowing it to depreciate against the dollar in response to President Donald Trump's decision to put more tariffs on Chinese goods. (AP Photo/Richard Drew)
    • Tuesday, 1 January, 2019
      Blockchain
      The Fed should seize blockchain’s potential     

      Central banks must embrace new financial technologies to boost market stability

      Bitcoin and blockchain blue and grey background with blurred city skyline and polygon overlay ID 85271765 © Nils Ackermann | Dreamstime.com Bitcoin and blockchain blue and grey background with blurred city skyline and polygon overlay.
    • Sunday, 7 October, 2018
      Indian economy
      How India can avoid the emerging market blues

      Questions are being asked about the government’s commitment to liberalisation

      Arun Jaitley, India's finance minister, speaks during the Bloomberg India Economic Forum in Mumbai, India, on Friday, Sept. 22, 2017. Jaitley said India needs to find a balance between fiscal prudence and spending -- and there’s no need to panic -- as he tries to dig the economy out of its deepest slump in three years. Photographer: Dhiraj Singh/Bloomberg
    • Sunday, 1 July, 2018
      Currencies
      Renminbi’s worst month ever sparks US-China currency war fears

      Economists say any attempt to ‘weaponise’ China’s currency carries big risks

      FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo
    • Sunday, 20 May, 2018
      US trade
      America beware: dollar supremacy is not forever

      Under Trump, the US is increasingly seen as an unreliable partner

      SAN ANSELMO, CA - AUGUST 29: In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California. The dollar fell to a two and a half year low to 91.77 Tuesday following the latest missile launch by North Korea. The U.S. dollar index has slipped over 10% since the inauguration of U.S. President Donald Trump. (Photo Illustration by Justin Sullivan/Getty Images)
    • Sunday, 29 April, 2018
      Chinese politics & policy
      Xi Jinping’s economic dream team must be allowed to succeed

      China needs a financial system that allocates resources more productively

    • Friday, 9 March, 2018
      Chinese politics & policy
      Reformist PBoC governor signs off after 15 years at helm

      Interest rate deregulation among highlights of Zhou’s modernisations

      FILE PHOTO: Zhou Xiaochuan, Governor of the People's Bank of China, leaves a news conference during the ongoing National People's Congress (NPC), China's parliament, in Beijing China March 10, 2017. REUTERS/Jason Lee/File Photo
    • Wednesday, 7 March, 2018
      Global trade
      Gary Cohn’s departure leaves economic nationalists in the ascendant

      Champions of aggressive trade policy take up position to wield influence

    • Monday, 16 October, 2017
      Global Economy
      Serious economic reform is key to unlocking India’s potential

      Narendra Modi’s government can win investor confidence with bold strategies for change

      Indian customers look at gold jewellery at a stall in the Asia Jewels Fair 2017 held in Bangalore on August 11, 2017. / AFP PHOTO / MANJUNATH KIRAN (Photo credit should read MANJUNATH KIRAN/AFP/Getty Images)
    • Thursday, 14 September, 2017
      Chinese capital controls
      China needs to come clean on its exchange rate policy

      The central bank must let the renminbi’s value go where market forces take it

      A man carries a kite along the bund as the Lujiazui Financial District stands in the background in Shanghai, China, on Monday, Sept. 4, 2017. The Chinese central bank's tight leash on liquidity is straining the bond market, with the benchmark sovereign yield climbing to near the highest level since April 2015. Photographer: Qilai Shen/Bloomberg
    • Tuesday, 18 July, 2017
      Banks
      How to fix China’s financial system

      Allocate capital to the more productive, employment-generating sectors

      Pedestrians walk past the People's Bank of China (PBOC) headquarters in Beijing, China, on Thursday, March 9, 2017. China's central bank plans to apply a stricter method for assessing banks' capital as part of efforts to contain financial-sector risks, people with knowledge of the matter said. Photographer: Qilai Shen/Bloomberg
    • Sunday, 16 April, 2017
      Global Economy
      The global economic recovery is for real

      Advanced economies are settling into reasonable growth as emerging markets rebound

    • Wednesday, 5 April, 2017
      Special ReportHenny Sender
      US retreat from global financial system lets China in

      Companies are having to look closer to home to raise capital

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