Analysis Of The Status And Prospect Of Monetary Union In East Asia

Monetary union is an important part of financial union, it's also the one step in the development of regional economic union.With the naissance of EUR, monetary union becomes to real, and provides the precious experience for the monetary reform in other regions.In recent years, East Asia attracts the attention all over the world because of its economic vigor. But its financial system and market is not mature, and not match the upgrading status of East Asia in world economic.After financial crisis in 1997, East Asia realized the important of financial cooperation, and made great efforts in this field, but these efforts have little help with the process of monetary union in East Asia.This paper concentrate on the current economic status and problems in the future of East Asia, discuss the necessary and feasibility of monetary union in the region. And then introduce the theory of Optimum Currency Area. Contrast the status of Europe, North America and East Asia, analyze whether the East Asia have the conditions. Give the advices for the development of monetary union.Furthermore, the author concludes the main viewpoint of the paper, and prospect the development of financial cooperation and its impact to East Asia in the future.