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  3. In applying the Optimum Currency Area (OCA) framework, the consensus that East Asia presents as good a candidate for monetary in

In applying the Optimum Currency Area (OCA) framework, the consensus that East Asia presents as good a candidate for monetary in

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问题     In applying the Optimum Currency Area (OCA) framework, the consensus that East Asia presents as good a candidate for monetary integration as Europe is generally arrived at. However, it can be observed that OCA framework had only an insignificant part to play in the decision to pass the Europe Monetary Union (EMU), it tends to be overshadowed by political sentiments. Thus, the central question on the possibility of an Asian Monetary Union lies not in its satisfaction of the OCA criteria, but whether the political resolve to achieve such a union is existent.
    Unfortunately, it appears that the political climate of East Asia is not favorable towards such a union at present, and is unlikely to undergo much positive alteration in the near future. Thus the manifestation of an Asian Monetary Union is unlikely in the foreseeable future, as the political resolve to bring this about is evidently lacking.
    However, to dismiss outright the possibility of creation of an East Asian monetary union would be presumptuous. Even though the political climate in East Asia does not appear to be ready for such an undertaking as yet, it cannot be denied that integrative and cooperative initiatives have indeed made much positive progress. Although the state of pan-Asian institutions is nowhere comparable with needed to engineer the EMU, however East Asia is taking definite steps towards regional cooperation.
    Thus, it would be hasty to simply write off the prospects of such a union. The road to East Asia may be long and fraught with obstacles, but it is not impossible. Only with visionary leadership, which looks beyond regional political sensitivities and rivalries, to recognize the economic imperative and promise of such a monetary union, can it have hopes of materialization. East Asian leaders, unwilling to undertake monetary unification due to fears of the loss of political sovereignty which it would entail should be more farsighted and recognize that in the present age, sovereignty is no longer absolute as globalization accelerates and increasingly blurs the lines of national boundaries. Sovereignty is not completely lost as nations will still be able to influence decision-making through the union, but as one voice amongst all other members. Furthermore, misgivings about the prospects of Asian monetary unification based on the grounds that East Asian nations are at very different stages of economic development with diverse structure of economy should look towards the monetary union between Singapore and Brunei, which has endured despite its members’ vast dissimilarity. Thus, current economic disparities should not prove insurmountable to an East Asian monetary union, provided regulatory and fiscal reforms critical to sound and sustainable economic growth are developed alongside monetary unification.
    In the previous section, a proposal which suggests gradual steps towards Asian monetary unification is mapped out, by first achieving smaller monetary unions instead of an Asian-wide monetary union. In this way, the vast economic disparity across Asia is breached gradually, as opposed to tackling it in its entirety, with the ultimate aim of an East Asian wide monetary union.
选项 A、The obstacles of an East Asian Monetary Union (EAMU).
B、The impossibility of an EAMU in the short run.
C、The prospect of an EAMU.
D、The comparison between EAMU and EMU.
答案C
解析 通观全文，作者一方面提到了建立东亚货币联盟在政治决心、国家主权等方面存在的障碍，同时也谈了经济的决定性作用，新加坡和文莱走出的一条成功之路，以及这一联盟的前景。其余选项都很片面，只有答案选项最符合题意。
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