Overview
From Bloomberg News reporterĀ Saleha Mohsin, the untold story of how one of Americaās most invincible institutionsāthe Treasuryāhas used the U.S. dollar to define Americaās role in the world, and our economic future.
In 1995, Treasury Secretary Robert Rubin re-defined the next thirty years of currency policy with the mantra, āA strong dollar is in Americaās interest.ā That mantra held, ushering in exceptional prosperity and cheap foreign goods, but the strong dollar policyĀ also played a role in the devastating hollowing out of AmericaāsĀ manufacturing sector.Ā Meanwhile, abroad, the United States increasingly turned to the dollarĀ as a weapon of war. In Paper Soldiers, Saleha Mohsin reveals how the Treasury Department has shaped U.S. policy at home andĀ overseas by wielding the American dollar as a weaponāand what that means in a new age of crisis.
For decades, America has preferred its currency superpower-strong, the basis of a "strong dollar" policy that attracted foreign investors and pleased consumers. Drawing on Mohsin's unparalleled access to current and former Treasury officials like Robert Rubin, Steven Mnuchin, and Janet Yellen, Paper Soldiers traces that policy's intended and unintended consequences, including the rise of populist sentiment and trade war with Chinaāculminating in an unprecedented attack on the dollarās pristine statusĀ duringĀ the Trump presidencyāand connects the dollar's weaponization from 9/11 to the deployment of crippling financial sanctions against Russia. Ultimately, Mohsin argues that, untethered from many of the economic assumptions of the last generation, the power and influence of the American dollar is now at stake.
With first-hand reporting and fresh analysis that illustrates the vast, often unappreciated power that the Treasury Department wields at home and abroad, Paper Soldiers tells the inside story of how we really got hereāand the future not only of the almighty dollar, but the nationās teetering role as a democratic superpower.
This book title, Paper Soldiers (How the Weaponization of the Dollar Changed the World Order), ISBN: 9780593539118, by Saleha Mohsin, published by Penguin Publishing Group (March 19, 2024) is available in hardcover. Our minimum order quantity is 25 copies. All standard bulk book orders ship FREE in the continental USA and delivered in 4-10 business days.
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