An Analysis Of East Asian Monetary Integration And China 's Strategic Choice

East Asia accounted for an important position in the world economy, is recognized as one of the world’s three major economic zones. Trade and economic cooperation in various forms also has a good development on different levels, but compared to other economic zones, cooperation in East Asia in the mo netary field is relatively slow. Asian financial crisis in 1997 make East Asia aware of the need for monetary cooperation, the demonstration effect of the euro area monetary integration process in East Asia is gradually accelerated.This paper firstly describes the background and significance, collate and East Asian monetary integration literature and explain research ideas and research methods; Secondly, the relevant regional mo netary integration theory, and comments; then European monetary integration process and analyze the drawbacks arise, sum up e xperience, to provide a basis for the East Asian Monetary Integration; introduce the status quo in East Asia Monetary Integration and difficulties again; then most currency areas by traditional cost-benefit method and the OCA index, respectively Feasibilit y of East Asian monetary integration is analyzed, overall, the outlook is more optimistic monetary cooperation in East Asia, but in the end achieve monetary integration still requires a long and tortuous process. Finally, the East Asian monetary integratio n arrangements specific measures can be divided into three stages: the establishment of a comprehensive crisis relief mechanism; the establishment of an exchange rate linkage system in the region; to achieve monetary integration. And pointed out that C hina’s participation in the process of monetary integration in East Asia should strengthen economic cooperation with East Asian countries and regions; improve coordination and policy East Asian countries and regions to accelerate the process of internationalization of the RMB.