Monetary Integration In East Asia And China's Strategic Choice

With the deepening of economic globalization, international trade, international capital flows, the growing demand, the financial sector is also gradually moving towards globalization, the resulting huge amount of international capital flows and cross-border large-scale activities of international financial speculation, often economic stability will be greatly affected, making the region among countries in the framework of monetary cooperation, to achieve monetary integration has become an inevitable reality of the demand.East Asia as the world economy, an important part of that in recent years to maintain rapid and sustainable economic development and create a world-renowned "East Asian miracle." However, rapid economic development is the asymmetry of monetary cooperation in East Asia is still at a relatively low level, the ability to withstand external shocks inadequate, to the East Asian countries (regions) of the problems brought about economic stability. Therefore, since the Asian financial crisis, promote regional monetary cooperation in East Asian countries has become a (regional) government is a consensus from the relevant monitoring mechanism to a signatory to the Chiang Mai Initiative, as well as the establishment of Asian Bond Fund, the East Asian monetary integration process has made some substantial progress, but subject to a number of practical factors, only the East Asian monetary integration is a long-term process that needs to constantly be able to complete the advance.In this paper, the study of East Asian monetary integration is based on the theory of optimal currency areas under the guidance of the. Through the Theory of Optimum Currency Areas, a complete description, the paper established a committee to study regional monetary integration of the theoretical system, and use of the system analysis of the single indicators, revenue - cost analysis and structural VAR approach to monetary integration in East Asia whether the feasibility analysis, the analysis based on the integration of East Asian currencies from the current status quo approach is proposed to promote the process of monetary integration in East Asia and the path of the mode of arrangement, and finally, in view of China in East Asia a major influence This paper discusses the monetary integration in East Asia should take China's strategic choice.