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.
Emerging Markets Conference, 2025
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We are now on the 16th run of the Emerging Markets Conference. This is in
Bombay, 14-17 December. It brings together the important questions of the
ag...
5 days ago
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