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The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance
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Bibliographic Detail
Publisher Princeton Univ Pr
Publication date August 25, 2015
Pages 408
Binding Paperback
Edition New
Book category Adult Non-Fiction
ISBN-13 9780691168524
ISBN-10 0691168520
Dimensions 1.25 by 5.50 by 8.25 in.
Weight 0.89 lbs.
Original list price $19.95
Other format details university press
Summaries and Reviews
Amazon.com description: Product Description:

The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance.

Eswar 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. Marshaling 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 U.S. 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-U.S. 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 intrigue and backdoor scheming 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.



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Paperback
Book cover for 9780691168524
 
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New edition from Princeton Univ Pr (August 25, 2015)
9780691168524 | details & prices | 408 pages | 5.50 × 8.25 × 1.25 in. | 0.89 lbs | List price $19.95
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