东亚金融合作新走势与中国的路径

The Motivation and Trend of East Asian Financial Cooperation and China's Path

在东盟和中日韩的共同努力下,东亚金融合作取得丰硕成果。近年来,受到中美贸易战、新冠疫情、乌克兰危机、美国滥用金融制裁等因素影响,东亚金融合作呈现出积极适应外部变化的新趋势,特别是“10+3”成员国开始推动本地货币在跨境交易中的使用。东亚金融合作新动向主要受到国际货币体系变动和地缘政治博弈两方面的影响,东亚国家在外汇储备库、地区债券资本市场和本地货币上的合作,意在持续降低自身和地区的脆弱性,并非主要是内生驱动的金融一体化努力。鉴于现有制度安排为美国与东亚国家之间、中国和日本之间以及东盟与中日之间三组关系相互作用下的平衡选择,为维护地区金融稳定,中国应积极发挥引领作用,深化东亚金融合作、推动国际货币体系改革,为地区金融稳定创造良好的外部制度环境,同时积极谋划亚洲货币基金方案,为解决地区金融治理赤字贡献中国智慧。

Thanks to the joint efforts of ASEAN,China,Japan and South Korea,East Asian financial cooperation has achieved fruitful results.In recent years,affected by the US-China trade war,the COVID-19 pandemic,the Ukraine crisis,and the abuse of financial sanctions by the US,East Asian financial cooperation has been characterized by active adaptation to external changes.Specifically,the 10+3 countries have started to promote the use of local currencies in East Asian financial cooperation.East Asian financial cooperation has been influenced by both changes in the international monetary system and geopolitical games.Cooperation among East Asian countries on foreign exchange reserve pools,regional bond capital markets,and local currencies is intended to reduce their own and the region's vulnerability in a sustained manner,rather than the East Asian countries desire to work towards financial integration.The current institutional arrangements provide a balanced choice between the United States and East Asian countries,between China and Japan,and between ASEAN and China and Japan in the interplay of three sets of relations.In order to safeguard regional financial stability,China should play a leading role in deepening East Asian financial cooperation,promoting the reform of the international monetary system,creating a favorable external institutional environment for regional financial stability,and at the same time,planning for the Asian Monetary Fund program and contributing Chinese wisdom to solve the regional financial governance deficit.