The Choice For Renminbi Policy In Monetary Cooperation Of Eastern Asia

With the further economic globalization, it is the inevitable requirement of economic development for East Asian countries to join the process of financial globalization. After the Asian financial crisis in 1997,East Asian countries have been taking their efforts to explore how to strengthen regional monetary and financial cooperation in order to achieve the purpose of guarding against financial crisis. But to achieve further development,the selection of the exchange rate mechanism must be solved. Under the background that Monetary cooperation in East Asia are deepening,Which currency will probably win and become the core one has become a problem to be urgently solved in theoretical circles. Beginning from the regional monetary cooperation theory and practice,the paper analyzes the status of the East Asian financial cooperation and constraints, and monetary cooperation in East Asia was conducted an empirical analysis, as well as the competitiveness of Chinese and Japanese currencies are compared, and ultimately makes research on China's strategic for the promotion of monetary cooperation in East Asia.