East Asian Currency Cooperation

Ruogu Li

Chapter 16 in Reform of the International Monetary System and Internationalization of the Renminbi, 2015, pp 197-212 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The 1997–1998 Southeast Asian financial crisis exposed weaknesses in the financial sectors of East Asian countries and spurred progress in East Asian currency cooperation. At present, since East Asian monetary cooperation is still at an initial stage, it cannot yet play the role of stabilizing the regional monetary and financial environment or promoting rapid and healthy growth of the regional economy. To respond to a new round of financial crisis, East Asia should accelerate regional monetary and financial cooperation and establish an independent East Asian mutual emergency aid system closely connected with the regional economy.

Keywords: IMF; World Bank; Financial Crisis; International Monetary System; RMB; International Monetary System Reform; China; US; Dollar; Renminbi; Yuan; Currency; Exchange Rate (search for similar items in EconPapers)
JEL-codes: G10 (search for similar items in EconPapers)
Date: 2015
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