Eswar Prasad: The RMB to play a more important role in global payment
Updated 09:12, 30-Jun-2023

During an interview with CGTN's Zhou Yiqiu at the 2023 Summer Davos, Eswar Prasad, a professor at Cornell University and Former Chief of IMF's China Division, said the RMB will play a more important role in international payments, as China has a very large economy and extensive trade dealings with other countries. More importantly, China's financial market is developing to the point where it can support these payment transactions. The role of the RMB in cross-border payments will be more important than it is now. "I have confidence in China's increasing role in the global economic recovery," he said.

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