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Wednesday, September 24, 2014 at 4:00pm to 5:00pm
Mann Library, Room 160
Cornell University Mann Library, Cornell University, Ithaca, NY 14853, USA
In the twentieth century, the U.S. dollar reigned as the leading reserve currency. The creation of the euro challenged the dollar, but that has faded, and now the Chinese renminbi is seen as a rising competitor. With the recent global financial crisis the dollar’s place on the pedestal is a little insecure lately, and many speculate it will be displaced, especially with ineffective policymaking brought on by the political dysfunction in the United States.
Yet, paradoxically, Eswar Prasad’s new book The Dollar Trap (Princeton University Press, Jan. 2014) argues that the crisis has actually strengthened the dollar’s prominence in global finance and made it the most sought-after currency. Join us for a Chats in the Stacks book talk to hear about contemporary issues in international finance—including the 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.
Eswar S. Prasad is Tolani Senior Professor of Trade Policy at Cornell (Dyson School of Applied Economics and Management, CALS; Department of Economics, A&S), senior fellow at the Brookings Institution, and research associate at the National Bureau of Economic Research.
Light refreshments will be available throughout the event, and books will be available for purchase and signing.