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| 040 | _aDLC | ||
| 082 | 0 | 0 | _a332.4/5095 |
| 100 | 1 |
_aPark, Yung Chul _948762 |
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| 245 | 1 | 0 |
_aBeyond the dollar and the euro : _breshaping the international monetary system through regional monetary cooperation in East Asia _cYung Chul Park, Il Houng Lee |
| 260 |
_aNew Jersey : _bWorld Scientific, _cc2016. |
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| 300 |
_axi, 163 p. : _bill. ; _c24 cm. |
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| 504 | _aIncludes bibliographical references and index. | ||
| 505 | 0 | _aOverview -- Issues and challenges of international monetary reform -- East Asia perception of the global safety net, IMF -- Use of national currencies for trade settlement in East Asia : a proposal -- Shaping the future of the IMS : regionalization of selected Asian currencies -- Conclusion. | |
| 520 | _aSince the 2008 global financial crisis, the debate on the reform of the international monetary system (IMS) has gained new momentum. It questioned the desirability of the current system's excessive reliance on the US dollar despite the fact that the US financial system has proven to be less than perfect, and US monetary policy stance has not been in tune with the business cycle of the rest of the world. However, attempts to reform the IMF or strengthen regional safety nets have not produced material results. With the challenges in the euro area persisting, the dollar is very likely to stay as the main reserve currency for the foreseeable future.Against this background, this book prescribes concrete steps on how to shape an alternative monetary system that will be a win-win solution to all without having to strike an international agreement on a new global governance structure. It proposes to use the RMB - already in motion to become an international currency - to become the third pillar without the need for China to open its capital account prematurely.For policy makers, this book will help them rethink how they can approach the problems facing the IMS. For the general readers, it will offer them a comprehensive view on what the international monetary system is about, what the problems are, and how these problems can be addressed. In particular, it will equip them with a better sense of what currencies they will need to carry when traveling around the world, or in what currencies they should hold their wealth in the coming decades. | ||
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_aMonetary policy _zEast Asia _xInternational cooperation _948763 |
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_aInternational finance _zEast Asia _948764 |
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_aGlobal Financial Crisis, 2008-2009 _92260 |
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| 700 | 1 |
_aLee, Il Houng _948765 |
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_uhttps://uowd.box.com/s/mp0qmn4vc5hxgcejykp5ram6yp2fjwxq _zLocation Map |
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_cREGULAR _2ddc |
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