Study On The Exchange Rate Coordination Mechanism In The East Asia

Regional Monetary Integration becomes a kind of uptrend under the economic globalization condition, some Regional Monetary Integration Organization had be established. According to the EU and the North African Free Trade Area, the East Asia is lagging on the Regional Monetary Integration. The Financial Crisis in the latter 21 century turned passive complexion of Regional Monetary Integration in the East Asia. The Economies had started to work out exchange rate stability problem. Setting up the Exchange Rate Coordination Mechanism in the East Asia is a more practical imagination.The thesis based on the following logic to develop the viewpoints. At first, the East Asia should reference to the experience of the EU, taking active on establishing the Exchange Rate Coodiantion Mechanism. The second, according to the difference on economy bases and tempo, the Pegging to Currency Basket is a hypo-choice for the East Asia. The third, the Exchange Rate Coordination should begin with strengthening policy communication, and perfecting regional financial, and from hypo-region to region to establishing the Exchange Rate Coordination Mechanism. The forth, in the future , the China has benefits from the Exchange Rate Coordination Mechanism, China Should take active measures to push the establishing of the Exchange Rate Coordination Mechanism. At last, I conclude: in the future, the establishing of the Exchange Rate Coordination Mechanism is an inevitable uptrend, but so far the conditions is not provided. The East Asia should coordinate in different grading and administrative levels, and establishing the Exchange Rate Coordination Mechanism in the last.There a highlights of the thesis: attempting combining the incomes of the demonstration analytic and geopolitics in the East Asia to confirm the bound of each hypo-region. A majority of scholars approve that the East Asia Monetary Coordination should start with hypo-region. But so far , there is not an agreement that how to build hypo-region. Some scholars adopt quantitative analysis, the others adopt qualitative analysis , but so little scholars combine them.The fall short of the thesis: the text use for the experience of the EU. The economic and politics bases in EU is different from the East Asia. On the economics, there is tempo gap in the East Asia; on the politics , the connections between the countries in the East Asia is more complexity. So , we can not simplex compare economics index to confirm the approach of the Exchange Rate Coordination Mechanism.