Global Imbalance And East Asia Economic Cooperation

Global imbalance has become the world significant hot spot. Its main performance lie in US's huge and increasing current account deficit.Simultaneously, other countries including the Eastern Asian emerging economies have large current account surplus.This thesis will take East Asia Economic cooperation and global imbalanee into account together. We provide a new round of global economic imbalances perspective, which put the current account imbalances and financial imbalances as a twin project to comprehensive study and propose a model to explain the global imbalances and the expansion mechanism. This thesis indicate that global imbalance create a chance for East Asia Economic cooperation,and East Asia Economic cooperation can work as a countermeasure for global imbalance.Finally,there is an advice of establishing East-Asia Payments Union as the first step to deepen East Asia Economic Cooperation.