Euro Lessons for East Asia
Asian countries have learned from the eurozone crisis that effective management of cross-border capital flows requires well-constructed national, regional, and global responses. To respond effectively, East Asian countries must continue to improve the regional financial safety net and surveillance mechanism, and boost cooperation with the IMF.
https://prosyn.org/Z6wQPsM
SEOUL – East Asia could learn two valuable lessons from the eurozone crisis. First, do not rush the process of financial and monetary integration; and, second, develop adequate institutional frameworks before proceeding.