East Asian Financial Stability Mechanism Research

The financial cooperation and financial stability construction in East Asian has been built for more than 10 years.The "Chiang Mai Initiative" has gradually expanded,the regional economic and trade integration has continued to deepen,and financial cooperation has also made substantial progress.However,facing the rise of the anti globalization trend,the rise of trade protectionism and the new situation of global economic and political uncertainty,the Asian region is still facing the threat of the financial crisis.This article first reviews the recent progress in the construction of East Asian financial stability mechanism in recent years,analyzes the emerging economic and political situation in East Asia and the existing internal and external risks,and draws the conclusion that although the current financial security in East Asian has improved,there are still factors and hidden dangers that need to be derived from the crisis.It is necessary to strengthen the construction of East Asian regional financial stability mechanism from the aspects of monetary cooperation mechanism,exchange rate coordination,and promotion of AMRO monitoring level to deal with the financial crisis including national,regional and international multi level financial crisis.