Financial Cooperation In Northeast Asia In The New Era Of Development Path And The Strategic Choice Of China

With the smooth progress of the process of European monetary integration since the1990s, research on regional financial cooperation is increasing. Through regional monetary and financial cooperation can not only reduce the cost of a regional reserve to ease the real exchange rate fluctuations, can also reduce the transaction costs of the regional currency exchange, increase the transparency of the regional market, stabilize the regional price, improve regional macroeconomic environment, thereby facilitating intra-regional trade and cross-border investment, the optimal allocation of district resources. However, the current research on regional financial cooperation in Asia are more concentrated in the East Asian region, the Northeast Asian financial cooperation is still relatively weak, and the existing research is the lack of attention and study the latest features and trends of the industry, trade and other entities in the Northeast Asian economic cooperation.Post-financial crisis era, with the full-blown European sovereign debt crisis, sound emerging about the disintegration of the euro area and euro disappear, the people of the need for regional financial cooperation and prospects for a wide range of questions, in this context, what are the opportunities and challenges of the new era in Northeast Asia financial cooperation, how to set goals and ideas of regional financial cooperation, what are the feasible path arrangements and the development trend of regional financial cooperation, China should participate in the Northeast Asian financial cooperation by what means, and should play what roles in the Northeast Asian financial cooperation, Accurate answer for this series of problems, not only the success or failure of the financial cooperation in Northeast Asia, but also to many of the internationalization of the RMB in China, foreign exchange reserves, security, energy security and other strategic level issues, become the focus of China’s economic and financial policies. In this paper, based on detailed research on the Northeast Asian financial cooperation, trying to answer these questions accurately.Systematic review and comb the existing regional financial cooperation theory in the first part of this paper, depth analysis of the causes of the European sovereign debt crisis, and obtain useful insights for the Northeast Asian financial cooperation. The second part describes the dynamic economic and financial cooperation in the Northeast Asian, summed up the opportunities and challenges facing the current Northeast Asian financial cooperation. On this basis, the third part is based on the actual situation in Northeast Asia, and fully consider the characteristics and trends of the industry, trade and other entities in the Northeast Asian economic cooperation, from the perspective of the sub-regional financial cooperation, learn from the experiences and lessons of the euro area monetary integration, developed and perfected the goals and ideas of the Northeast Asian financial cooperation. Under the guidance of the goals and ideas, this article focuses on the writing of the fourth part of the Northeast Asian financial cooperation path arrangements and new trends, try to explore the path of financial cooperation in Northeast Asia in the new arrangements and new trends. Subsequently, part Ⅴ focuses on China should be how to participate in the Northeast Asian financial cooperation, and play what role, that is the strategic choice of China. Finally, the sixth part discusses the focus and draw basic conclusions on the Northeast Asian financial cooperation.