Thursday, February 13, 2014

20 February 2014: The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance

Eswar Prasad
Brookings Institution and Cornell University

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 the emergence of the Chinese renminbi have heightened speculation about the dollar’s displacement as the main reserve currency, which counters this conventional wisdom. Prof. Prasad argues that the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. His book 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. Prasad will also offer his views on the renminbi's potential as a reserve currency, putting it in the context of China's growth prospects.

Date: February 20, 2014
Time: 03:00 P.M.

Lecture Hall No. 1,
India International Centre,
Max Mueller Marg, Lodi Estate,
New Delhi - 110 003(INDIA)


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