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.
High-Voltage Treatment for a Comatose Elephant
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*Unshackling the Elephant* by Anand Prasad: A Review
by Siddarth Raman.
Anand Prasad's *Unshackling the Elephant* provides an interesting
clean-sheet cr...
2 weeks ago
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