The Idea and Reality of the Asian Currency Unit (ACU)

Ramkishen Rajan

Chapter 14 in Emerging Asia, 2011, pp 80-84 from Palgrave Macmillan

Abstract: Abstract There has been much talk about whether Asia is decoupling from the US. Will Asia be able to withstand a sharp downturn in the US economy? As of now the answer must surely be “no”. The region is heavily dependent on the US and the European Union (EU) as the final destinations for its exports. There are also many other intricate monetary and financial linkages between the US and Asia, including the heavy dependence of the region on US dollar-denominated assets. However, as Asia continues on its path of intensified economic monetary and financial regionalism (MFR), it is conceivable that the region can become more independent from the US. It is in this context that one needs to understand recent events in Asian MFR.

Keywords: Exchange Rate; Policy Dialogue; European Monetary System; Currency Basket; European Currency Unit (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-30627-1_14

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DOI: 10.1057/9780230306271_14

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