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On The Free Trade Area (fta) To Promote East Asian Monetary Integration

Posted on:2005-04-01Degree:MasterType:Thesis
Country:ChinaCandidate:T T QinFull Text:PDF
GTID:2206360125960349Subject:World economy
Abstract/Summary:PDF Full Text Request
Our times has already entered financial globalization era, as the degree of thefinancial globalization is strengthened, the countries all over the world, while sharingits incomes, will unavoidably take risks altogether. In case of the enhancement of theinfection of the financial crisis, the strength leant against only one country has notbeen enough to resist the crisis yet. In order to take precautions against the financialrisks better, and to share more incomes of the financial globalization, variouscountries strengthen the hope of seeking the monetary cooperation and integration inone region day by day. On January 1st, 1999, the arrival of Euro started the successfulbeginning of the international regional monetary integration, wrote a brand-newchapter in the history of the international monetary system; And the constantpromotion of the dollarisation process in the American area has offered another newroute for the international regional monetary integration. After going through the1990s'financial crisis in East Asia, some countries in East Asia also produce the hopeof monetary cooperation, but the monetary integration of East Asia encountersnumerous difficulties at present. Whether the currencies of East Asia should beintegrated, whether the currencies of East Asia can be integrated, and what kind ofway should be adopted to realize the monetary integration, all these are a realisticsubject, which concerns the development of East Asia, this paper just launchesresearches around all these questions. The full text can be divided into four parts altogether: The first part mainly introduces the theory of the international regionalmonetary integration; the practice situations of regional monetary integration inEurope, America and Asia; and summarizes three kinds of routes of the regionalmonetary integration. The second part proves the necessity of the monetaryintegration in East Asia; points out the main difficulties that the monetary integrationof East Asia faces at present; analyses the feasibility of the monetary integration inEast Asia. The third part analyses the interreaction between the regional economicintegration and the regional monetary integration, and the positive and negativeeffects of the Free Trade Area (FTA). The fourth part is the innovation of this paper.At first, it analyses the impetus of the sub-regional cooperation to the whole regionalcooperation; then points out that in order to advance the monetary integration in EastAsia, in the situation that the paces of economic integration of East Asia lag behindthe monetary integration at present, we must solve the difficult problem of "shortage iiiof driving force"during the monetary integration. For this reason, I put forward theconception of monetary integration in East Asia taking Free Trade Area (FTA) asdriving force: divide the East Asian "10+3"countries into three sub-regions accordingto the tendency of setting up FTA, at first advance monetary integration inside everysub-region, then on this basis advance monetary cooperation among these sub-regions,finally unify the currencies of the whole East Asia.
Keywords/Search Tags:Free Trade Area (FTA), Driving Mechanism, Monetary Integration of East Asia
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