According to the theory and the standard of Optimum Currency Areas, this paper analyzes the possibility of the Asia＇s monetary cooperation. Based on the current study, this paper points out that East Asia does not ha...According to the theory and the standard of Optimum Currency Areas, this paper analyzes the possibility of the Asia＇s monetary cooperation. Based on the current study, this paper points out that East Asia does not have the condition for the monetary cooperation and the cooperation can only be conducted in a comparatively low level; furthermore, in order to achieve the monetary integration and to form the Optimum Currency Areas, it is still a long way to go for Asian countries. All the Asia countries should work hard in the political and economic area. However, the common interests will make the monetary cooperation an irreversible trend.展开更多
The idea of East Asian monetary cooperation was initiated in 1997. Since then, it has received increased, positive responses in the East Asian region as well as the whole international community. Multilateral and bila...The idea of East Asian monetary cooperation was initiated in 1997. Since then, it has received increased, positive responses in the East Asian region as well as the whole international community. Multilateral and bilateral monetary arrangements have been carried out among different economies in the region. However, the progress of the monetary cooperation is still relatively slow compared with proposed goals. There have been a number of factors behind this situation, one of which is believed to be the way in which people understand the issues. This paper dis-展开更多
The Chinese Government has stepped up its drive to reconstruct its international ftnancial strategy after the sub-prime crisis developed into a global financial crisis in 2008. The main aim of the strategy is to reduc...The Chinese Government has stepped up its drive to reconstruct its international ftnancial strategy after the sub-prime crisis developed into a global financial crisis in 2008. The main aim of the strategy is to reduce the country＇s dependence on the US dollar in foreign trade, cross-border capital flows and foreign exchange reserve management. The strategy can be divided into three tiers： renminbi internationalization, regional monetary cooperation and reconstruction of the international monetary regime. So far, the Chinese Government has fared well in the application of all three tiers. We hoM that the Chinese Government should continue in the same direction in a coordinated manner despite various challenges it faces.展开更多
文摘According to the theory and the standard of Optimum Currency Areas, this paper analyzes the possibility of the Asia＇s monetary cooperation. Based on the current study, this paper points out that East Asia does not have the condition for the monetary cooperation and the cooperation can only be conducted in a comparatively low level; furthermore, in order to achieve the monetary integration and to form the Optimum Currency Areas, it is still a long way to go for Asian countries. All the Asia countries should work hard in the political and economic area. However, the common interests will make the monetary cooperation an irreversible trend.
文摘The idea of East Asian monetary cooperation was initiated in 1997. Since then, it has received increased, positive responses in the East Asian region as well as the whole international community. Multilateral and bilateral monetary arrangements have been carried out among different economies in the region. However, the progress of the monetary cooperation is still relatively slow compared with proposed goals. There have been a number of factors behind this situation, one of which is believed to be the way in which people understand the issues. This paper dis-
文摘The Chinese Government has stepped up its drive to reconstruct its international ftnancial strategy after the sub-prime crisis developed into a global financial crisis in 2008. The main aim of the strategy is to reduce the country＇s dependence on the US dollar in foreign trade, cross-border capital flows and foreign exchange reserve management. The strategy can be divided into three tiers： renminbi internationalization, regional monetary cooperation and reconstruction of the international monetary regime. So far, the Chinese Government has fared well in the application of all three tiers. We hoM that the Chinese Government should continue in the same direction in a coordinated manner despite various challenges it faces.
