Comprehensive . . . Eswar S. Prasad is engaging and clear and provides an excellent survey of some of the most important issues in international affairs today. * Financial Times * Erudite and expansive. * Publishers Weekly * The book criticizes both nostalgia for a vanished global order and fatalism about permanent disorder. * Cornell Chronicle * This important and sobering book delves into the root causes of a perilous period for the global economy. Eswar Prasad, one of the United States top economists, clearly and elegantly explains how the postWorld War II international order has been undermined in a destructive feedback loop of financial and debt crises, populist domestic politics and dramatic geopolitical shifts. Despite the bleak picture, Prasads deep analysis offers critical insights into how we can escape our current predicament, the doom loop, of his title. * Fiona Hill, author of There Is Nothing for You Here * A deeply insightful account of how economics, geopolitics and technological change are interacting to amplify disorder across the globe. Understanding these dynamics is a prerequisite for rebuilding something better. Prasads compelling and clear-eyed analysis challenges us to rethink the foundations of international cooperation. Essential reading for those seeking to understand and help shape the turbulent era ahead. * Janet Yellen, Distinguished Fellow in Residence, The Brookings Institution; former US Treasury Secretary; former chair, Federal Reserve * Prasad diagnoses the forces driving the fragmentation of the global economy. In a narrative of ambitious scope, he shows how a world that once seemed headed toward greater integration and harmony is now fraying at the seams. From currencies and trade to AI and alliances, this is a compelling if sobering tour that should inform the thinking of leaders and citizens alike. * Robert E. Rubin, co-chair emeritus, Council on Foreign Relations; former US Treasury Secretary * Prasad explains why the foundational institutions that underpinned global prosperity in the latter half of the twentieth century are now faltering, and why no obvious alternatives have emerged to stabilise the world that America built. With his signature clarity and insight, Prasad excoriates Western powers and the institutions they created, arguing that their failure to adapt has deepened todays crises. Essential reading for anyone seeking to understand the forces shaping the unravelling global orderand the urgent choices ahead as we attempt to forge a new one. * Raghuram Rajan, author of Fault Lines *
