Book notes: The Dollar Trap, by Eswar S Prasad

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Eswar S Prasad, The dollar trap: how the US dollar tightened its grip on global finance, Princeton University Press, 2014, pages xix + 408.

Eswar Prasad, a Cornell University academic who has worked in the research department and as head of the China division at the International Monetary Fund, has written a lively and compelling analysis on currency wars in the wake of the financial crisis – and the likely persistence of the US dollar as the world’s pre-eminent currency.

The fundamental theme i

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