ABSTRACT
The purpose of this roundtable discussion is to take up two major issues that have arisen in the presentation of the papers and to introduce a third one into the picture. The two major issues are the absence, or at least the low degree, of monetary coordination among East Asian countries and the very limited international role of the yen. Several rationales have been given for this situation, which strikingly contrasts with that of Europe. They may deserve further discussion. But more importantly, we should look ahead and discuss whether cooperation among central banks could develop and whether the yen could take a larger role in Asia. These perspectives could also gain from being discussed in the context of the third issue: the transformations in international monetary relations that will arise from the introduction of the Euro and the possible competition between the Euro and the dollar on the international scene.
