The Growth Of The East Asia's Foreign Exchange Reserve And Its Influence

The economic of the East Asia is developing quickest in the world. Along with the economics'fast development, the East Asian's foreign exchange reserve grows swiftly and violently, which is now attended by the world. The foreign exchange reserve is a important target that weighs a country's economic potentiality. The sufficient foreign exchange reserve may strengthen a country's economic potentiality; sharpen the foreign paying capacity; enhance the ability of resisting the external economical impulse. But, according to the theories that relate to the foreign exchange reserve, the East Asian's foreign exchange reserve has already presented a surplus condition. The excessive foreign exchange reserve has a influence on a country economy and even other countries'economy.This article's first part is the literature summary. Firstly, it proposes this article's research significance and research background, and then it summarizes the domestic and foreign scholars'research results about the scale, the structure and the management of the foreign exchange reserve in the past several years. The domestic and foreign scholars have conducted the massive research to the foreign exchange reserve, proposing many theories, including the survey of the foreign exchange reserve's reasonable scale, how to distribute, manage and use the foreign exchange reserve effectively.This article's second part carried on the analysis to the present situation of the East Asia's foreign exchange reserve, including three aspect contents. First it analyzed the East Asia foreign exchange reserve's development trend. Through the research to the foreign exchange reserve scale of the East Asian's main economics, we may see, in the past few years, the East Asian main economics'foreign exchange reserve is presenting the swiftly growing tendency; next, it summarized the of the East Asia foreign exchange reserve. There is three characteristic: First, fast growth; second, serious surplus; third, the structure is unbalancing. Lastly it analyzed the reasons that causing the fast growth of the East Asia foreign exchange reserve. This article has mainly analyzed 4 aspect reasons: first, the East Asian countries extensively take the export-oriented strategy as the economic development strategy; second, East Asian's countries lack the elastic exchange rate system; third, the financial systems of them are not perfect; fourth, the international currency system is unbalancing. Among the reasons, some of them are caused by the East Asian countries'own economic system, some of them are caused by the unreasonable international economy environment.This article's third part analyzed the influence of the growth of the East Asia's foreign exchange reserve. First, it analyzed the grow of a country's foreign exchange reserve's influence to the country's domestic economy, including to the economic growth, the money supply, the price level, the inflation, the exchange rate and the interest rate; Next it studied the influence to the US, the Europe, even the global economic. East Asia accumulated the large amount foreign exchange reserve, the majority of which is the US dollar property, so its change will have the influence to the American economy, then will influence the global economic.This article's last part introduced the East Asian's main economics'foreign exchange reserve management patterns, and put forward the policy proposal to the China's foreign exchange reserve management pattern. In February, 2006, our country's foreign exchange reserve scale has surpassed Japan for the first time, becoming the first-class in the world and having continued today. How to use this foreign exchange reserve reasonably will be a great test to the government. The policies suggested by this article are hoped to be a help to the government's policy.