Abstract
Though the phenomenon of “Counter-Globalization” occurred recently, economic globalization and regional economic integration are still the trends, especially as shown by the Asian economic integration process. The Asian regionalization is in very initial stage emerging in various cooperation mechanisms, forming a multi-level pattern of coexistence in the later erupted advantage. Based on the theories of regional economics and the Optimal Currency Zone, within the [10+4] FTA considered frame inc. The ASEAN, China, India, Japan, and South Korea, an academic study is carried out comparing with the case of the European regionalization. The research will focus on conditions and barriers in the Asian currency unification process, and finally a corresponding step proposal to set up "the ACU Experimental Zones" together with a model is putting forward.
Highlights
The ASEAN, China, India, Japan, and South Korea, stated as such, " the Asian Currency Unit (ACU) should be pursued as a longan academic study is carried out comparing with the case of term goal, and it worth pursuing for two reasons: (1)
The research will focus on conditions and barriers in the Asian currency unification process, and a corresponding step proposal to set up "the ACU Experimental Zones" together with a model is putting forward
If Asian nations could have their own unified currency and be stable, that would be good for Asia; (2) So far, there are only USD and the Euro to be the hard currencies
Summary
According to the above analysis, at a good momentum, the situation shows that economic integration in Asia still in the primary stage, it has not yet China is the world's largest capital exporter provided the necessary conditions for the regional accounting for 21% of the global total in 2010, monetary integration in a wide range. The RMB directly dealing with the Yen help to expand and deepen the bilateral trade and investment activities, and a significant step of the RMB internationalization It will, at the same time, increase global status of the two currencies in the world market. US Dollar and EURO, becoming less stable today, the bilateral monetary cooperation of Sino-Japan will bring a global influence in the world monetary system It shall help the Asian nations to gain the speech right. 2) Based on the Common Reserve Fund scheme by Japan and India
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