亚洲金融区域主义的政治逻辑

本文探讨了合法性与权力在金融区域主义方面的因果效应。当前以G7为主导的全球体制中合法性的明显缺失和国家间权力格局的变化影响了东亚的政策决策。东亚国家寻求抗衡性的战略,也即在保持着与以G7为中心的全球金融体制合作关系的情况下,通过发展自身的区域性制度(或其他潜在方案)以避免对前者的过度依赖。上述观察意味着,除非现存全球金融体制解决了合法性问题,并且当前(有利于东亚的)权力转移发生逆转,亚洲新兴经济体不会将应对国际金融问题的全部希望寄于全球性的解决方案。

The Political Logic of Asian Financial Regionalism

This article argues for the causal effects of ’legitimacy’ and ’power’ on financial regionalism.The perceived lack of legitimacy in the existing G-7-led global institutions and changing interstate power configuration has influenced East Asia’s policy choice.East Asian countries search for counterweight strategies that will allow them to avoid overdependence by developing their own regional supplements (or potential alternative) even as they maintain cooperative relations with the G7-centerd global financial institutions.My findings suggest that unless the existing global financial institutions resolve the legitimacy problems (which involve inclusiveness,rule-governance and fair returns) and today’s power transition (in favor of East Asia) is reversed,Asian emerging economies are unlikely to place whole stock in global solutions in order to deal with international financial issues.