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The purpose of this paper analyzes the process and situation of financial cooperation in East Asia and suggests policy implications for the East Asian monetary integration and cooperation. There has been a growing trend toward regional cooperation in East Asia since the 1997 financial crisis. This trend toward East Asian economic integration has been accelerating under the ASEAN Plus Three (APT) framework. it is desirable that the APT framework serves to promote economic and financial cooperation in the region Economic and monetary cooperation in East Asia has just started and the process is still at a rudementary stage. However, it is necessary to make an honest effort to bring about monetary cooperation and integration in East Asia by policy entrepreneurs