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Item Details
| Title:
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THE DOLLAR TRAP
HOW THE U.S. DOLLAR TIGHTENED ITS GRIP ON GLOBAL FINANCE |
| By: |
Eswar S. Prasad |
| Format: |
Hardback |
| List price:
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£27.95 |
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We believe that this item is permanently unavailable, and so we cannot source
it.
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| ISBN 10: |
0691161127 |
| ISBN 13: |
9780691161129 |
| Publisher: |
PRINCETON UNIVERSITY PRESS |
| Pub. date: |
14 January, 2014 |
| Pages: |
432 |
| Description: |
Argues, the financial crisis, a dysfunctional international monetary system, and US policies have paradoxically strengthened the dollar's importance. This book 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. |
| Synopsis: |
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. |
| Illustrations: |
8 halftones. 17 line illus. 6 tables. |
| Publication: |
US |
| Imprint: |
Princeton University Press |
| Prizes: |
Winner of Gold Medal in Economics, Axiom Business Book Awards 2015
Commended for PROSE Award in Business, Finance & Management, Association of
Short-listed for "Financial Times" (FT.com) Best Economics Books, chosen by
Short-listed for "China Business News"' Financial Books of the Year 2014 |
| Returns: |
Returnable |
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