A regional currency's basic advantage is that you don't need to exchange now and then when passing boarder to boarder. Other agendas would be to strengthen cooperation’s among the neighboring countries, creating unified regional pride and trade. The European Union created the euros and now the Central Americas are planning to have a unified currency and even a similar passport. Will the possibility of a regional Asian or group of Asian countries would have the same currency in the future?
Singapore, Malaysia and Brunei are key countries that are strengthening South-East Asian as a whole. Cooperation into a deeper commitment for neighboring development would benefit the whole region and eventually all the eleven member states. Positioning the 11 member states in a more resilient economic structure and international policy agreements learned from the current financial crisis will serve the Asian's interest and continued support for 3rd world developments.
It may not happen next year but I do hope Asian countries would follow through this time. Hopefully the South-East Asian member states will start first in the future.
Sunday, December 7, 2008
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