The IPE Analysis Of East Asia Monetary And Financial Cooperation

In the background of economic globalization, economic regionalization, economic financializaiton and financial liberalization, finance's cross-country effects and its externalization is more and more clear. The outbreak of Asia Financial Crisis in 1997 exerted profound impacts on both Asian countries economic systems and their mutual-economic relations. Nowadays, the financial tsunami that conduced by American sub-prime crisis is re-challenging Asia's competence of defecting financial crisis. In latest years, the constructive revolution and regional economic cooperation are becoming more and faster, these reflect that all the countries try to find the best approaches to keep financial stabilization and maintain economic development from both domestic and international arrangements. It's in such background, the theoretical discussion and the practical operation about the East Asian regional currencies and finance cooperation developed.The most important contents of financial cooperation are a country's foreign financial policy and its operational process; it's the final results of all the countries'collective mutual-activities. However, while a country chooses to cooperate with its neighbor countries and profit from the cooperation, it also has to face up many systematic risks. For instance, the financial crisis panics from the neighbors, the independence to constitute the macro-economic policies, and so forth. One of the main research objectives of IPE is to find the political intentions, decision-making mechanisms and the process. Only when we tread the political analysis as a useful supplement of economic theory, then can we fully understand the problem of regional financial cooperation. This is also the important reason for me to choose IPE as the main analysis tool.As a long-lasting trend of the international relations evolution, regional financial cooperation is not only an important approach for developed countries to integrate global resources and gain profits, but also provides a tactic opportunity for developing countries to improve their financial competence and promote their economic development. First, my thesis redefined the East Asia currency and financial cooperation's motivation from the prospects of IPE, comprehensively and systematically summarized the specific process of cooperation. Secondly, my thesis took IPE's economic and political mutual-activity as the center, separately descript the economic and political effects which are brought by regional cooperation, and its economic and political handicrafts. Thirdly, the author believes that financial cooperation can constitute the institutional arrangements for East Asia's economic growth in the long run. From easy to difficult, from basic to higher level, from monetary cooperation to "Asian Dollar", my thesis proposed a realistic approach to further the cooperation. Lastly, the author believes that, positively participate into the East Asia monetary and financial cooperation is not fit for the benefit of China, but also fit for the benefit of East Asia, and analyzed China's domestic and foreign policies to better participate into regional monetary and financial cooperation.The functional construction of East Asian finance is still on the preliminary stage, and at the same time, there exist many political obstacles that can not be eliminated in the near future. Further cooperation still need long-lasting efforts from all the regional countries. In the long run, East Asian financial cooperation has very broad prospects and a hopeful future.