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May 12, 2026
Dollar Dominance
Why It Rules the Global Economy and How to Challenge It
Summary
In a world shaken by crises, why does the dollar continue to dominate? In Dollar Dominance: Why It Rules the Global Economy and How to Challenge It (Policy Press, 2025) Photis Lysandrou explores the interaction between global instability and the enduring strength of the dollar. Drawing on examples from the 2008 Great Financial Crisis to the COVID-19 pandemic and Russia's invasion of Ukraine, the author reveals how uncertainty and instability in global trade, production and politics drives investors towards the safety of the dollar, reinforcing its dominance over other currencies. With clear and insightful analysis, Lysandrou reveals the true global financial foundations of dollar dominance, and lays out what it would take for other currencies such as the Euro to challenge its position.
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Sasikumar Sundaram
Dr Sasikumar S. Sundaram is a Senior Lecturer at the Department of International Politics at City, University of London, Chair of the Global South Caucus of the International Studies Association (ISA) (2026-2028). He is author of book Rhetorical Powers: How Rising States Shape International Order (Columbia University Press, 2026)
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