China Digs Itself Deeper Into Dollar Trap

In "The Dollar Trap," Cornell economist Eswar Prasad argues that the U.S. dollar's linchpin role is only strengthening. And China doesn't see it's the dupe in this giant pyramid scheme.

Reading Eswar Prasad's new book, it's easy to picture the entire global economy as a giant bird cage, with Jack Lew and Janet Yellen standing outside waving at all the unwitting creatures inside.

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