(Paperback, Revised edition)

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 powe

(Hardback)

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.