ABSTRACT
This chapter examines the case for a simultaneous change in the exchange rate peg used by a group of East Asian currencies. I assume for the time being that nine economies would be involved: China, Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand. The reason for picking this group is the impression that they are close competitors to each other; in due course the chapter examines whether this is in fact sufficiently true to make these countries a natural monetary grouping such as the EMS countries are widely agreed to be.
