East Asian Currency Cooperation Present Situation And Development Direction

The beginning of this article,some basic problems and theories about regionalexchange rate cooperation mechanism are summarized and commented,which lays a hidingfoundation for the following study on the choice of method to further Eastern Asian MonetaryCooperation.The reason why it happens is that the following further study is based on theprecedent.The second part of this thesis turns to the study on the present situation of Easternmonetary cooperation and the possibility to further it.No matter from the short or long period,Eastern Asia really needs monetary integration and exchange rate cooperation.There aremany problems,and the most important is the fact that the exchange rate target zone will meetdifficulties in such an area where every country puts its own interest on top of the overallarea's.In view of the above problems and the enlightenments the precedent regional exehangerate cooperation theories have brought,the third part designs a plan which conforms to thereal situation and betters the Eastern Asian monetary cooperation.The author holds theopinion that the latter reform about Eastern Asia exchange rate system should turn to theCurrency Basket.According to the many-faceted pattern of Eastern Asia's external trade andthe fe(?)tures of utilizing foreign capital,the Currency Basket should be made up of US dollars,Japanese yen and European dollars.The selected Currency Basket,on one hand,reduces thedependence on the US dollars,which could facilitate the stabilization of Eastern AsiaEconomy Community's exchange rate,decreasing the unfavorable affects of the wave motionthat exchange rate between US dollars and Japanese yea,and facilitating each countries'economic development.On the other hand,it makes Eastern Asia a further step from a lowermonetary cooperation,which lays a foundation of setting up a systematic,and lawfulprocedure for Eastern Asia cooperation.The author holds the opinion that it is not an easy buta long and complex period to set up a unitary currency zone for Eastern Asia monetarycooperation,which should be carried out with plans and procedures.So some opinions andmethods about monetary cooperation are put forwards.In the forth part of this thesis,it pointsout some problems that should be paid much attention and some corresponding solvingtragedies in the cooperation.