East Asian Monetary Cooperation, Global Economic Imbalances

In the perspective of economic reality,three regional economic unions have already formed their shapes:EU,NAFA and East Asia.EU and NAFA have launched their own regional monetary system to meet the demand of economic development,while East Asiais still far away effective monetary cooperation.During the last years of the 20th century and the beginning of new century, Especially U.S.economic unbalanced,global economic imbalance become heavier.Thus,East Asia has been faced with not only the factors that caused Asia Crisis,but also more new hazards.Monetary cooperation can relax these hazards,so it is necessary to enhance cooperation for East Asia.But after reviewing the history and current status of East Asia monetary cooperation,existent monetary cooperation mechanism also has some shortage.This thesis will take East Asia monetary cooperation and global economic imbalance into account together.Based on the analysis of imbalance's character and causes,we can realize the status of East Asia in global imbalance and the hazards that East Asia faces.This thesis indicate that global imbalance create a chance for East Asia monetary cooperation,and East Asia monetary cooperation can work as a countermeasure for global imbalance.Finally,some advice and suppose is put forward to deepen East Asia monetary cooperation.The structure of this thesis is as following:The first chapter is the introduction of this thesis,which firstly explains the research background and meaning,and then summarizes existing researches and analysis on correlative topic,and introduces the methods and structure of this thesis in the end.The second chapter summarizes the character of global imbalance firstly, describes that Unite States economic imbalance is prominent,and analyzes the causes of global imbalance to an overall extent.The third chapter discusses the necessity of East Asia monetary cooperation in global imbalance.Firstly the status of East Asia in global imbalance is reviewed,then the hazards that East Asia faces are cognized renewedly,and finally the function of relaxing the hazards when monetary cooperation is illuminated.The fourth chapter reviews the history and current status of East Asia monetary cooperation,and analyze the shortage of existent monetary cooperation mechanism.The last chapter put forward some advice,and suppose the feasible path to carry on further monetary cooperation.The conclusion will make a summary of the whole thesis to give reader a clear picture.