velopment Bank in Manila, 2002-7-23.Р [ 11] Williamson, J.G. Globalization and Inequality, Past and Present [J]. World Bank Research Observer, Vol.Р12, 1997 (2): 117~135.Р [12] Yam, Joseph C.K. Asian ary Cooperation[Z]. The Per Jacobsson Foundation Lecture in Hong Kong, 1997:4~28.Р Abstract: Qualitative and quantitative analysis has been conducted on the regional ary cooperation. Based on theРCournot model, the paper aims to reach Nash Equilibrium under the in-cooperative and cooperative situations, while the e-Рvolving East Asian exchange rate system brings benefits to the participants. In the long run, it’ s helpful for East Asia to re-Рalize ary integration.Р Keywords: East-Asia ary Cooperation; Pegging Currency Basket; Cournot ModelР 国际金融研究Р /2010.6Р STUDIES OF INTERNATIONAL FINANCE 29