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The Dollar Trap

The Dollar Trap

How the US Dollar Tightened Its Grip on Global Finance

Eswar S Prasad
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Eswar S. Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshalling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including the US government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance-including the growing economic influence of emerging markets, the currency wars, the complexities of the China-US relationship, and the role of institutions like the International Monetary Fund-and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the backdoor scheming that goes on in the corridors of international finance.The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

Imprint: India Portfolio

Published: May/2014

ISBN: 9780670087624

Length : 432 Pages

MRP : ₹699.00

The Dollar Trap

How the US Dollar Tightened Its Grip on Global Finance

Eswar S Prasad

Eswar S. Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshalling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including the US government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance-including the growing economic influence of emerging markets, the currency wars, the complexities of the China-US relationship, and the role of institutions like the International Monetary Fund-and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the backdoor scheming that goes on in the corridors of international finance.The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

Buying Options
Paperback / Hardback
Ebooks

Eswar S Prasad

Eswar Prasad is the Tolani Senior Professor of Trade Policy at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a Research Associate at the National Bureau of Economic Research. He was previously head of the China Division at the International Monetary Fund. He has co-authored and edited numerous books and monographs, including on financial regulation and on China and India. He serves on an advisory committee to India's finance minister.

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