“Even when trade flows may take place directly between Russia and its trading partners, the reality is that payments often have to go through a Western-dominated financial system, and usually have to go through a Western currency,” says Eswar Prasad, professor of economics and international trade policy. 

SEAP director Thomas Pepinsky writes this opinion piece on Russia’s imminent financial crisis and how Russian citizens will react. 

“We are soon going to be moving to a world where we will have global access to digital versions of the dollar or the Chinese renminbi and many of the other major currencies,” says Eswar Prasad, professor of international trade policy. 

Eswar Prasad talks about the effects major economic sanctions would have on the dollar-dominated global financial system. 

Desirée LeClercq, assistant professor of employment and labor law, says, “I think that consumers are becoming more educated on how these products are made. But whether or not that’s going to trickle into consumer behavior, I think has yet to be seen.” 

“Undoubtedly, China will have the ability to soften the blow on Russia’s economy,” says Eswar Prasad, professor of economics and international trade policy. 

Robert Hockett, professor of law, talks about how the Biden administration could help increase supply rather than address monetary policy to curb inflation. 

Eswar Prasad, professor of economics, writes this opinion piece about digital currencies calling for better cross-border regulation and supervision. 

Kaushik Basu, professor of economics, writes this opinion piece about the uneven economic recovery of emerging market and developing economies (EMDEs) and advanced economies. 

“The U.S. is hoping Russia has learned the lesson through the Huawei example,” says Eswar Prasad, professor of economics and international trade policy.