The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance

by Eswar Prasad

2014 432 pages eng

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 m…