THE CHANGING POLITICAL DYNAMICS OF EAST ASIAN FINANCIAL COOPERATION: The Chiang Mai Initiative.

In this article the author examines the elements that led to the Chiang Mai Initiative, a financial agreement among the members of the Association of Southeast Asian Nations (ASEAN). The author notes that the initiative was a significant demonstration of financial cooperation among the countries of East Asia. The principal focus of the article is a comparison between the successful Chiang Mai Initiative and the failed attempt to form an Asian Monetary Fund that was proposed for the region in 1997.