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

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4.08
76,945 ratings · 5,425 reviews
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OFFICIAL VERIFIED

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

4.08 76,945 ratings · 5,425 reviews
Discover The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance by Eswar S. Prasad. Start reading today and explore ideas, insights, and experiences that stay with you.

Overview: 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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Details & Genres

Economics Non Fiction Finance Econ Politics History Finance Economics
Length N/A pages
Language Eng
Published December 30, 2013
ISBN-13 19824894

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Eswar S. Prasad
About the Author Eswar S. Prasad
15,851 followers

Eswar S. Prasad is the author of several novels. Originally from the East Coast, they now live in the Midwest with family. In addition to writing, Eswar S. Prasad enjoys gardening, cooking, and reading way past bedtime. Their work often explores the complexities of everyday life and human relationships.

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Donna Turner
Donna Turner October 21, 2025
I was pleasantly surprised. I got really invested in the main character's journey. Everything just clicked for me. Will be looking for more from this author.
Karen Garcia
Karen Garcia December 10, 2024
It was okay. Some parts were interesting, while others were a bit of a slog to get through. Might work better for someone else, just wasn't completely for me.
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Ashley Rivera
Ashley Rivera May 05, 2025
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I was pleasantly surprised. I got really invested in the main character's journey. Everything just clicked for me. Worth the time and money.
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Michael Lopez
Michael Lopez August 26, 2024
Honestly one of the better books I've read lately. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Definitely recommend it if you like this genre.
David Rodriguez
David Rodriguez December 28, 2025
Such a great read. I loved how the story unfolded. It kept me guessing without being too confusing. Worth the time and money.
William Reyes
William Reyes June 25, 2024
Glad someone recommended this to me. I loved how the story unfolded. It kept me guessing without being too confusing. Glad I picked this up.
Mary Hill
Mary Hill August 09, 2025
A very satisfying read. I loved how the story unfolded. It kept me guessing without being too confusing. Definitely recommend it if you like this genre.
William Edwards
William Edwards August 06, 2024
Took me a few chapters to get into it, but it was worth it. I liked the main character, though some of the side plots were just okay. A solid 4 stars from me.
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