新世纪的东亚区域货币合作:中国的地位与作用

进入21世纪以来,东亚地区的货币合作取得了一些初步进展,但更深层次的区域货币合作却面临着一系列阻碍或困境。随着中国经济实力的不断增强,中国与其他东亚经济体之间的贸易、产业关联度日益提高,中国有条件成为东亚地区主要的市场提供者,中国经济的稳定增长和稳健的货币政策也将成为区域经济增长的稳定器与区域货币政策的"驻锚"。中国的积极参与,不仅有助于解决东亚区域货币合作面临的困境,而且也将使人民币通过制度性的区域货币、汇率合作逐步实现"亚洲化",摆脱目前面临的汇率困境,成为区域性主导货币。

East Asian Regional Monetary Cooperation in the New Century: China's Status and Influence

In the first years of 21~s~t century, the East Asian regional monetary cooperation has gained some preparatory successes, but the deeper cooperation in this area is faced with many difficulties. Our study finds that with its stable economic growth, its increasing economic importance and closer trade and industrial relations with the other East Asian economies, China can be the market provider and the economic stabler in this area, and its monetary policy can be the regional nominal anchor. So, China's participation can solve the difficulties of regional monetary cooperation and it will inevitably be the key force of the cooperation process. RMB can be "Asianized" through the regional monetary and exchange rate arrangements, and become the dominant currency in East Asia.