The Doom Loop

In his new book, 'The Doom Loop: Why the World Economic Order Is Spiraling into Disorder,' Eswar Prasad writes that "economic, political, and geopolitical factors are fuelling a doom loop, breeding turmoil rather than stability, disarray rather than order." Prasad joins EconoFact Chats to discuss why forces once expected to foster shared prosperity -- globalization, multilateral institutions and competition -- are instead driving instability, and why the erosion of domestic institutions makes this moment more dangerous than previous periods of volatility. Eswar is a Professor at Cornell University and a Senior Fellow at the Brookings Institution. He previously served as head of the International Monetary Fund's China division.