Currency and Contest in East Asia: The Great Power Politics of Financial Regionalism

by William W. Grimes

Since the Asian Financial Crisis of 1997-98, East Asian economies have sought to make themselves less vulnerable to global financial markets by transforming the regional financial architecture. With Japan as a leading actor, they have introduced initiatives to provide emergency financing to crisis economies, support the development of local-currency bond markets, and better coordinate currency policies.

In Currency and Contest in East...

• Format: Hardcover
• Language: English
• ISBN: 0801446899
• ISBN13: 9780801446894
• Release Date: December 2008
• Publisher: Cornell University Press
• Length: 264 Pages
• Weight: 1.20 lbs.
• Dimensions: 0.9" x 6.2" x 9.2"
• Age Range: 18 years and up
• Grade Range: Postsecondary and higher

Customer Reviews

Currency and Contest in East Asia

This book describes attempts to create a regional economy in east Asia and their failure to do so largely because of the political needs and stances of the region's major powers, Japan, China, and the U.S. The writer had unique access to many of the economic players in Japan and provides convincing reasons for the irrational accumulation of foreign hard money reserves by the local economies of east Asia. Some of the world's present economic problems may be bcause of this sequestering of the dollar and euro as a "store of wealth" rather than as an investment vehicle. The book is clearly written with little technical jargon and should be a must for scholars researching east Asian economies, but is also of great interest to the general reader who wishes to be well informed.