Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What was the intended purpose of the 2000 ASEAN+3 Chiang Mai Initiative (CMI)?
What was the intended purpose of the 2000 ASEAN+3 Chiang Mai Initiative (CMI)?
- To provide short-term credit lines for Asian states in need
- To establish an Asian Monetary Fund for sudden infusions of credit
- To pool international reserves totaling US$120 billion in commitments
- To promote regional cooperation through bilateral currency swap agreements (correct)
Why was the proposed Asian Monetary Fund abandoned during the 1997–8 crisis?
Why was the proposed Asian Monetary Fund abandoned during the 1997–8 crisis?
- Concerns about the independence of surveillance process
- Due to intense US opposition (correct)
- Lack of support from ASEAN members
- Inadequate financial commitments from PRC, Japan, and South Korea
What is the primary source of the total commitments for the new accord CMIM?
What is the primary source of the total commitments for the new accord CMIM?
- PRC, Japan, and South Korea (correct)
- United States and European countries
- International monetary organizations
- ASEAN members
What function will be allotted to CMIM according to the agreement by ASEAN+3 finance ministers?
What function will be allotted to CMIM according to the agreement by ASEAN+3 finance ministers?
Signup and view all the answers
What is a key requirement for the resources allotted to CMIM to be credible?
What is a key requirement for the resources allotted to CMIM to be credible?
Signup and view all the answers
