On The Monetary Cooperation In East Asia During The New Financial Crisis

Since the collapse of the Bretton Woods System, globalization has been an important feature of economic development in the world. This feature increases the level of the global economy, and also making the financial crisis,cross-border communication become more smooth. For this reason, the current financial crisis has caused a serious impact to the global economy. particularly for East Asia, because of the presence of dollar-based ,which expanded the impact of the financial crisis, Made the region's financial system instability more prominent, affected the financial security of East Asian, east Asia become the hardest region for the hit of this financial crisis. in the last Asian financial crisis , East Asian countries first realize the importance of regional monetary cooperation, The current financial crisis is also to make them aware, with the development of economic globalization, interdependence between countries has increased, Any instability of financial within a country can not just stay at home, Only by strengthening the regional monetary cooperation, and establishing the institutionalized cooperation system, Using the common financial resources in the region , weakening the dollar-based status gradually, can Be possible to against and defuse the impact of the financial crisis to the East Asian. This article is about the East Asian monetary cooperation in the period of the current financial crisis, around this line, brief instructed the main two theory of the regional monetary cooperation, that is The Theory of Optimum Currency Areas and the "one market, one currency" theory, and analysis the possibilities of the East Asian monetary cooperation, and made the conclusion which Monetary Cooperation in East Asia obtained both in theory and reality. Then, It has made simple arrangements for the achievements of current monetary cooperation in East Asian, analyzed the problems of the East Asian monetary cooperation from the economic, political, religious history, and have a complete understanding on monetary cooperation in East Asia. Finally, address some specific proposals to solve these issues and push on some practices of the progress of East Asian monetary cooperation, therefore, address the financial crisis successfully and accelerate the economic recovery process.