همکاری مالی منطقه ای در آسیا

The pillars of the new financial architecture after 1945 were the IMF and the World Bank. The system has recently come under increasing pressure after the financial meltdown in 1997. It is no longer compatible with the new economic facts in the region. The US has become the largest debtor nation in the world. It is Asian banks that provide the necessary resources allowing the American economy to be a strong engine of global demand. Though the world's center of economic gravity continues shifting to East Asia, the 1997 crisis revealed the vulnerability of East Asian economies. The formation of an Asian financial facility would be quite advantageous to defend the region's interests and support development of a regional currency. These objectives could only be achieved if East Asia is to take active steps to setup the infrastructure needed for successful financial regionalism.