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Eswar Prasad is the Tolani Senior Professor of Trade Policy and Professor of Economics at Cornell University and a senior fellow at the Brookings Institution. He joins the show to discuss his new book, *Gaining Currency: The Rise of the Renminbi,* which examines the rise of China\u2019s currency, the renminbi (RMB), and its role in global finance. Prasad argues that the RMB is on the road to becoming a reserve currency, but it will not challenge the US dollar\u2019s dominance as a safe haven currency. David and Eswar also discuss China\u2019s interesting history as the first country with paper money and a fiat currency. David\u2019s blog: http://macromarketmusings.blogspot.com/ Eswar\u2019s Cornell homepage: http://prasad.dyson.cornell.edu/ Eswar\u2019s Brookings homepage: https://www.brookings.edu/experts/eswar-prasad/ David\u2019s Twitter: @davidbeckworth Eswar\u2019s Twitter: @EswarSPrasad Related links: *Gaining Currency: The Rise of the Renminbi* by Eswar S. Prasad https://global.oup.com/academic/product/gaining-currency-9780190631055?cc=us〈=en&