Bank of China bridge Macau Lucas Vallecillos Vwpics/ZumaPress

亚洲共同体可以等

东京—在国际金融领域,冲突的货币和汇率政策竞争优势,而国家竞争对游戏规则的影响力。毕竟,就像投资者竞相利润最大化,国家竞相确保国际规则和规范对自己有利。因此,就国际经济机制达成一致——比如建立固定汇率,或者采取共同货币——是一个非常政治性的决策。而今天的亚洲就面临许多这样的决策。

经济一体化是亚洲地区的一个热门话题。从大型地区级协议跨太平洋合作伙伴(Trans-Pacific Partnership),到中国领导的投资平台的成立——包括丝绸之路基金和最近的亚洲基础设施开发银行(亚投行)——亚洲正在变得比以往任何时候都更加紧密地互相联系。

因此,一些观察者也许发现,增加货币一体化的概念——甚至一个基于(比如)人民币或日元的固定汇率制度——十分诱人。但我认为,如今普遍存在的弹性汇率仍是亚洲刺激繁荣、免受冲击的最佳选择。

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