Asia-Pacific Economic Security in the aftermath of the crisis of 2008

François Godement, fellow of the European Council on Foreign Relations, traces the origins of Asian regional integration cautioning that although China may be grooming its currency for capital convertibility and creating a modest role for the yuan as a reserve currency, economic security may not necessarily be improved due to China’s opacity and the fact that Asian currencies are as close to a dollar peg as they’ve ever been. In a paper for Institute for National Policy Research, Taiwan “Asia-Pacific Security in the context of global economic crisis”,  at the Asia-Pacific Security Forum 2009, he states that Asian based approach to enhanced economic security would be complementary to global approaches and would also involve expanded roles for Asian countries like China and India in international institutions.