This edited volume evaluates the prospects for monetary and financial cooperation in East Asia after the crises in the developed countries (2008 in the US, 2010 in Europe).

Since the Asian financial crisis of 1997OCo1998, there has been a deep and abiding desire on the part of Asian policy makers and opinion makers to enhance the region''s economic, monetary and financial self-sufficiency OCo or at least to ring-fence the region against financial instability and give it a louder voice in global financial affairs. There has been progress in these directions, notably in the form of the Chiang Mai Initiative of financial supports and the Asian Bond Market Initiative to build a single Asian financial market. But progress is hindered by disagreements among the principal national governments OCo Japan, China and South Korea OCo and resistance to the development of an Asian bloc from both Europe and the United States. This volume considers these issues from a number of different national and analytical perspectives. Scholars from all the relevant regions and countries are represented: Japan, China, Korea, Europe and the United States. While there have been a few previous books and articles concerned with the issue of Asian integration, this is one of the first volumes to successfully draw together top contributors from these different countries and regions to address the issues in a rigorous but relatively accessible way.

The book intents to locate the process and effectiveness of cooperation in East Asia, to regard the construction of the East Asian community as the ideal, to see the contradictions and difficulties in construction as the reality, and to identify the actual development and achievement as the choice and effort between the two. The year of 1997 saw the Asian financial crisis, which turned out to be a disaster but also opened up an opportunity for East Asia to establish cooperation mechanisms. Starting with the crisis, this book examines the origin and development of the East Asian cooperation movement. More importantly, it investigates the obstacles and resistance, and provides insights into the cooperation within East Asia in the context of unstable political environments. Specifically, it expounds the East Asian Free Trade Area, monetary cooperation, as well as the cooperation within Northeast Asian and Asia-Pacific regions.

This publication examines the possible application of peer reviews to address regional and domestic challenges in Southeast Asia.

This book proposes that the short-term goal of the current reform of the international monetary system should be a combination of controlling 'imbalances' and 'the risk of the dollar', namely using the balance of payments coordination mechanism to suppress risks by exchange rate cooperation. The reforms of international reserve currencies, international financial institutions, and international financial regulation provide a good external environment for the stable development of the world economy. The book discusses the mechanisms that will continue to support the hegemony of the US dollar and the US dollar system in the future, including the commodity dollar return mechanism, the international debt repayment mechanism, the petroleum dollar pricing mechanism and the dollar rescue mechanism in financial crisis. The book predicts that the current international currency system dominated by the US dollar will remain sustainable for a long time. Finally, the book proposes four strategies for China's participation in the reform of the international monetary system.

East Asian countries were notably uninterested in regional monetary integration until the late 1990's, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. --

Northeast Asia is one of the most important regions of the world both economically and in terms of its historical heritage. The region poses significant challenges for international law whilst international law can unleash cooperative endeavours which can place the region in a formidable location in the new multi-polar world order. This work sets out a contextual regional approach to international law focusing on the relations as between China, South Korea and Japan. In particular the author deliberates on the historical development of international law in the region, the relationship of international law with the Chinese, Korean and Japanese legal systems; historical disputes as between the three States; and the respective practices in the sphere of monetary and trade relations. This work will be of interest to international law scholars, practitioners and policy makers.

With contributions by a variety of internationally distinguished scholars on international law, world trade, business law and development, this unique examination of the roles of China and India in the new world economy adopts the perspectives of international economic law and comparative law. The two countries are compared with respect to issues concerning trade and development, the World Trade Organization, international dispute settlement, regional/free trade agreements, outsourcing, international investment, foreign investment, corporate governance, competition law and policy, and law and development in general. The findings demonstrate that, though their domestic approaches to economic issues diverge, China and India adopt similar stances at the international level on many major issues, recapturing images which existed during the immediate post-colonial era. Cooperation between China and India could provide leadership in the struggle for economic development in developing countries.

This book is a compendium of papers on various new movements that emerged after the Asian financial crisis, which lead to Asia becoming the enhanced growth center of the world. Beginning with the analysis of the Asian crisis and the subsequent capital flight, the book goes on to study the impact of these events on the Hong Kong economy, the role of the government in Indonesia and financial restructuring in Thailand. The book then explores the new movement of regional cooperation, such as Free Trade Agreement, and financial cooperation and integration. On the real side of the economy, the book delves into issues such as cooperation between Japan and China, development of the Greater Mekong sub-region, growth of China, fiscal coordination in Korea, technological network in East Asia, and growth and inequality in Vietnam.

This book is a compendium of papers on various new movements that emerged after the Asian financial crisis, which lead to Asia becoming the enhanced growth center of the world.Beginning with the analysis of the Asian crisis and the subsequent capital flight, the book goes on to study the impact of these events on the Hong Kong economy, the role of the government in Indonesia and financial restructuring in Thailand. The book then explores the new movement of regional cooperation, such as Free Trade Agreement, and financial cooperation and integration. On the real side of the economy, the book delves into issues such as cooperation between Japan and China, development of the Greater Mekong sub-region, growth of China, fiscal coordination in Korea, technological network in East Asia, and growth and inequality in Vietnam./a