Eswar Prasad
Professor of Trade Policy, Cornell University
Eswar Prasad is a leading expert on international trade and finance, as well as the economics of digital currencies, including CBDCs.
Global Business / Economy
Is China's Economy a Systemic Risk to Global Markets — or Is That Narrative Being Used to Justify Decisions Already Made for Other Reasons?China's slowing economy has become one of the defining questions facing global investors, policymakers, and multinational businesses. As the world's second-largest economy grapples with weaker growth, a troubled property sector, and elevated debt levels, concerns have grown over whether these challenges could destabilise international markets. While economists broadly agree that China's economic health matters because of its central role in global trade and supply chains, they differ sharply on the scale of the threat. Some warn that prolonged weakness could dampen worldwide growth, while others argue that framing China primarily as a systemic risk oversimplifies a far more complex global economy. The debate is ultimately about resilience, interdependence, and whether today's geopolitical narratives are shaping economic perceptions as much as economic data itself.
Financial Technology (FinTech)
Will Central Bank Digital Currencies Replace Cash — or Are Governments Building the Most Powerful Financial Surveillance Tool in History?Central banks around the world are exploring digital currencies — but is this a modernization of money or the construction of the most powerful financial surveillance tool governments have ever had? Eswar Prasad, Michael McKee, and Kristin Smith debate what CBDCs actually mean for privacy, freedom, and the future of cash.