Tolani-NUS Business School Public Lecture
(In Collaboration with Cornell University)

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

Followed by a Panel Discussion featuring academic experts from NUS Business School and Cornell University

Thursday, 3 April 2014
2 pm - 5.30pm

Marina Mandarin Singapore
6 Raffles Boulevard, Marina Square, Singapore 039594

Admission: complimentay
Dress Code: Office Attire

E-flyer Photos | Articles | Video
 
 
Abstract

The U.S. dollar has reigned supreme as the world's dominant reserve currency for nearly a century. But now the dollar's dominance is under threat. The near-collapse of the U.S. financial system in 2008, the high and rising level of U.S. government debt, and political gridlock in Washington have shaken confidence in the U.S. economy and the safety of its government debt. Other currencies such as China's renminbi are staking their own claims to become reserve currencies, adding to speculation that the dollar's glory days are coming to an end.

The Dollar Trap overturns this conventional wisdom. We show, in the aftermath of the financial crisis, U.S. policies and a dysfunctional international monetary system have paradoxically strengthened the dollar's importance. In international finance, it turns out, everything is relative. Ultimately, there is no good answer to this question: If not the dollar, then what? That is why, despite all its flaws, the dollar will remain the ultimate safe haven currency.


About the Speaker

Eswar Prasad is the Tolani Senior Professor of Trade Policy at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a Research Associate at the National Bureau of Economic Research. He was previously Chief of the Financial Studies Division in the International Monetary Fund's Research Department and, before that, was the head of the IMF's China Division. Eswar Prasad's latest book, The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance, has just been published by Princeton University Press.

His extensive publication record includes articles in numerous collected volumes as well as top academic journals. He has co-authored and edited numerous books and monographs, including on financial regulation and on China and India. Current research interests include the macroeconomics of financial globalisation; financial regulation, monetary policy frameworks and exchange rate policies in emerging markets; and the Chinese and Indian economies.

Prasad has testified before the various Congressional committees, and his research on China has been cited in the US Congressional Record. His research work and op-ed articles have been featured extensively in prominent media outlets such as the Economist, Financial Times and Wall Street Journal. In addition, he has made frequent appearances on the BBC, Bloomberg, CNBC and CNN, among others.


Programme

Opening Address by Professor Joseph Cherian, Director, CAMRI
Public Lecture by Professor Eswar Prasad
Panel Discussion: Professor Eswar Prasad, Dean Soumitra Dutta, Professor Kim Sun Bae and Dean Bernard Yeung (Moderator)
Question and Answer Session
Closing Remarks by Mr Rohet Tolani, Managing Director, Tolani Shipping
Tea Reception 


Enquiries

Contact Ms Chow Pee Fun of CAMRI on tel: (65) 6601 1047 or at This email address is being protected from spambots. You need JavaScript enabled to view it.
 

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