Date and Time
July 2, 2001
12:00 PM - 1:15 PM

Availability
Open to the public
No RSVP required

Speaker
Jennifer Amyx

In August 1997, after financial crisis had broken out in Thailand, Japanese officials proposed the establishment of an Asian Monetary Fund (AMF). The proposal encountered a number of obstacles, the most formidable of which was opposition by the United States and the IMF. Consequently, Japanese officials aborted the initiative. However, the notion of an AMF resurfaced in a variety of forms thereafter,. Most recently, a network of bilateral currency swap arrangements has begun to emerge among the ASEAN + 3 nations under the auspices of the May 2000 Chiang Mai Initiative. This talk will examine the political dynamics surrounding the Japanese Government's initial proposal for the creation of an AMF in 1997, and the arrangements that have emerged in its place. In doing so, the talk will attempt to draw out the significance of the AMF idea, its institutional evolution for the U.S.-Japan bilateral relationship, and for U.S. and Japanese roles in multilateral financial institutions today.