China-ASEAN Regional Currency Swap and Financial Stability
DOI:
https://doi.org/10.62051/ijgem.v10n7.16Keywords:
Currency swaps, Regional financial stability, Financial cooperation, ASEANAbstract
Against the backdrop of deepening economic globalization and regional integration, the Asian financial crisis and global financial turbulence have highlighted the need to build a regional financial safety net. As the core economic blocs of East Asia, China and ASEAN's currency swap cooperation has become a key institutional arrangement for responding to external shocks and maintaining regional financial stability. This article focuses on the current state of the China-ASEAN currency swap mechanism, its role in regional financial stability, and the existing challenges, exploring how it can enhance regional financial resilience through institutional design and practical innovation. This study aims to provide theoretical reference for improving China-ASEAN financial cooperation and practical insights for emerging market countries to build an independent and controllable regional financial system. It also has theoretical value for promoting the diversification of the global financial governance system and enhancing the financial voice of developing countries.
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