Since the 1997 Asian Financial Crisis, East Asia has gone from having virtually no regional financial cooperation to having multiple cooperative arrangements. This article focuses on the issue area of emergency liquidity provision, where global (International Monetary Fund), regional (Chiang Mai Initiative Multilateralization), and bilateral arrangements co-exist and overlap in complicated ways, forming a regime complex. While the overall system offers more options and greater funding than were available in 1997, it also raises questions about how those levels will operate in a crisis. This article shows how national preferences of likely creditor and likely borrower countries have interacted to create the current regime complex, as well as the political compromises and remaining uncertainties about how they will work together. It argues that the evolution and current shape of the regime complex have been driven by the efforts of key states to take advantage of or thwart power asymmetries.

中文翻译：

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作为政权综合体的亚太金融合作：解释覆盖范围、成员资格和规则的模式

1997年亚洲金融危机以来，东亚地区从几乎没有区域金融合作发展到拥有多种合作安排。本文重点讨论紧急流动性供给问题领域，全球性（国际货币基金组织）、区域性（清迈倡议多边化）和双边安排以复杂的方式共存和重叠，形成一个体制复合体。虽然整个系统提供了比 1997 年更多的选择和更多的资金，但它也引发了关于这些水平在危机中如何运作的问题。本文展示了可能的债权国和可能的借款国的国家偏好如何相互作用，从而形成了当前的复杂政权，以及政治妥协和它们如何合作的剩余不确定性。它认为，政权综合体的演变和当前形态是由关键国家利用或阻止权力不对称的努力所驱动的。