East Asian Monetary Cooperation Pattern Analysis Under China's Visual Angle

At present, the international monetary system has already taken shape to thepattern of the monetary alliance's direction gradual progress of three major areastaking Euro, U.S. dollar, and Asian currency as the center. East Asian monetarycooperation is also only simple level to European Union, North America and LatinAmerica economic zone, its cooperative pattern is still in the theory and discuss stage,it depends on the further state of development of the economy of various countries ofEast Asia. China, as the big developing country in the area of East Asia, East Asianmonetary cooperation has offered the new platform for economic development ofChina. This text proceeds from Chinese angle, through making cost-benefit to analyzeand compare to four kinds of monetary patterns in East Asia that are imagined intheory, and carry on feasible demonstration, drawing China should pursue East Asianmonetary cooperation of taking RMB as leading currency. The article includes fourparts of contents: First part, the theoretical foundation with cooperative currency in East Asia. Thebasic contents of the monetary basic theory main in East Asian monetary cooperation--the international policy coordinates theory, Optimum Currency Areas theory, themonetary crisis theory are explained separately in the article. Second part, the certainty of China participating East Asian monetarycooperation. East Asian monetary cooperation is necessary and it is impossible forChina to dissociate outside; China's economic development needs East Asianmonetary cooperation; East Asian monetary cooperation needs the push of China.From these three respects the article draw the conclusion: East Asian monetarycooperation must continue deepening, there is no East Asian monetary cooperationwhich China participates in that is unimaginable. Third part, cost-benefit analysis of East Asian monetary cooperation patternsunder China's visual angle. And the cost and income of four East Asian monetarycooperation patterns that imagine in theory are made detailed analysis under China'svisual angle in the article. Draw the conclusion, China can't support the leadingpattern of Japanese yen, in the other three kinds of patterns, Chinese net income of theRMB leading pattern is the largest. Fourth part, the feasibility analysis of China pursuing East Asian monetarycooperation pattern of taking RMB as leading currency. The article analysis thefeasibility of the RMB leading pattern, drawing the conclusion; it has feasibility inEast Asia that China pursues East Asian monetary cooperation of taking RMB asleading currency.