The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future

摘要: Bilateral and regional cooperation initiatives in Asia have been growing importance over the last five years. These accords span real financial sectors; rather than following more typical pattern of “trade first, money later”, recent policy involve simultaneous implementation trade monetary/financial accords. Given this sequence, is there a case for monetary union East Asia? Is expanded free-trade areas (FTAs) region? This paper argues that, at present, post-sequencing economic integration developing such that agreements will ultimately complement movement toward integration. While political exigencies associated with pose serious challenges, it argued FTAs should help relax constraint.