以区域合作应对东亚金融风险

金融危机暴露出亚洲金融脆弱性：经济基本面未脱钩、私人资本主体区外流动、外汇储备管理陷入困境、汇率制度选择依赖美元、区域货币基金缺乏、金融市场欠发达。为应对上述金融风险，东亚国家需要加强区域金融合作。

Addressing East Asia's Financial Risks with Regional Cooperation

This paper gives a focus on financial vulnerabilities that Asia has in face of financial crisis,namely, fundamentally non-decoupling with the world,less home-bias in financial flows,a strong link with the US dollar in exchange rate regimes,difficulty in foreign reserves management,absence of regional financial institution,and lessdeveloped financial market. Regional financial cooperation would serve as a safeguard against international financial instability,which should have three elements:to develop region...