Asian Economic Integration and Common Asian Currency

Asian Economic Integration and Common Asian Currency

- Speaker: Eisuke Sakakibara, Professor, Wasaeda University

- Date: September 12, 2006.

"Nationalism has been rising in some Asian countries but it needs to be recognized that, at the same time, common middle class value is developing, as well... With these backgrounds to economic and social integration, discussions have started on monetary and foreign exchange cooperations among East Asian countries. Asean plus three countries' finance minister agreed to study the subject of ACU(Asian currency unit). Although the discussion is at its embryonic stage, long-run prospects of closer monetary cooperation or even currency unification cannot be rueld out..."