Brad Setser points out that India doesn't peg to the dollar as much as China; India's forex reserves are falling, (this is me: while China's forex reserves are probably rising).
So we need to understand that the only really significant support for the US dollar's status as a central bank reserve currency comes from China, among state actors.
I think there is some risk that the US dollar can in the medium term lose its status as a central bank forex reserve currency.
Implementing loan waivers: Lessons from the 2008 All India Debt Waiver Scheme experience - by Renuka Sane and Amey Sapre. This has been the season of farm loan waiver announcements. Starting with Uttar Pradesh, state governments of Maharashtra,...
6 days ago