Eswar Prasad on India and Dean Baker on the US
It looks like the Asian Infrastructure Investment Bank is finding support in the most unexpected places, like the World Bank. Since launching the AIIB in October, China has been met with nothing but opposition from the United States. While the US objects to the AIIB based on its lack of clarity, the reality is that the US opposition stems from fears of losing its power over the region and its global financial supremacy in general. Erin weighs in.
Then Erin sits down with Dean Baker, columnist, blogger, and co-director of the Center for Economic and Policy Research. Dean gives us his take on the jobs numbers reported last week and how the US economy is doing altogether. While the numbers were weather-affected, the reality is that the underlying strength of the US economy has been overstated by previous jobs data. Dean believes that full employment is way off at this point in time. He argues that the Fed’s raising rates is premature. Dean also takes on secular stagnation.
After the break, Erin is joined by Eswar Prasad, Cornell professor, Brookings fellow, and former head of the IMF’s China Division. Eswar explains India’s role in the AIIB and updates us on his thinking about the US dollar reserve currency status.
And in The Big Deal, Erin and Edward discuss the state of the US economy.
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