Canadian Social Science
Causes and Enlightenments of European Debt Crisis on China’s Participation in East Asia’s Monetary Cooperation
Abstract
Deterioration of European sovereign debt crisis caused the global market slump. Although the European Union has introduced the first round large-scale rescue plan of 750 billion euro to Greece on May 10, 2010, the worsening trend of sovereign debt crisis has not been controlled effectively, and the prospect of crisis is still worrying. The paper firstly introduced the process of European sovereign debt crisis, then analyzed the causes of outbreak on European debt crisis, and finally concluded the enlightenments for China’s participation in East Asia’s monetary cooperation.
Key words: East Asia; Monetary cooperation; European debt crisis
References
Kawai, Masahiro (2009a). The Role of an Asian Currency Unit. In Koichi Hamada, Beate Reszat, & Ulrich Volz (Eds.), Towards Monetary and Financial Integration in East Asia (pp. 304-322). Edward Elgar Publishing.
Kawai, Masahiro (2009b). An Asian Currency Unit for Regional Exchange-Rate Policy Coordination. In Duck-Koo Chung & Barry J. Eichengreen (Eds.), Fostering Monetary & Financial Cooperation in East Asia (pp. 73-112). World Scientific Publishing.
LI, Xiao (2010). The Path of Monetary and Financial Cooperation in East Asian in Global Financial Crisis. In Xiao LI (Ed.), Post-Crisis Monetary and Financial Cooperation in East Asia. Jilin University Press (in Chinese).
Ogawa, Eiji (2010). Toward the Establishment of an Asian Currency Unit. Working paper prepared for the conference on Diversification of Reserve Currencies and Development of Regional Financial Markets in Asia, Beijing.
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