China and East Asia November 2015 Yung Chul Park Korea University

Table 1. Trade with China

Table 2. Trade Balance with China (% of GDP)

Table 3. Bilateral Currency Swap Agreements by China (Continued) NumberCountry Amount (RMB Billions) Date 1Belarus2011-Mar Argentina702-Apr New Zealand2518-Apr Uzbekistan0.719-Apr Kazakhstan713-Jun South Korea Oct-2011 (180)(12-Dec-2008) 7Hong Kong Nov-2011 (200)(20-Jan-2009) 8Thailand7022-Dec Pakistan1023-Dec United Arab Emirates 3517-Jan-2012 NumberCountry Amount (RMB Billions) Date 11Malaysia 1808-Feb-2012 (80)(8-Feb-2009) 12Turkey1021-Feb Mongolia 1020-Mar-2012 (5)(6-May-2011) 14Australia20022-Mar Ukraine1526-Jun Singapore 3007-Mar-2013 (150)(23-Jul-2010) 17Brazil19026-Mar United Kingdom20022-Jun Hungary109-Sep Iceland Sep-2013 (9-Jun-2010)

Table 3. Bilateral Currency Swap Agreements by China (Continued) NumberCountry Amount (RMB Billions) Date 21Albania212-Sep Indonesia100 1-Oct-2013 (23-Mar-2009) 23 European Central Bank 3509-Oct Switzerland15014-Jul Sri Lanka1016-Sep Qatar353-Nov Canada2008-Nov Suriname118-Mar South Africa3010-Apr Chile2225-May-2015 Total3,016.2 Note: The numbers in the parenthesis refer to initial swaps and the date. Source: People’s Bank of China.

Table 4. Bilateral Currency Swap Agreements with East Asia by China NumberCountry Amount (RMB Billions) Date 1South Korea Oct-2011 (180)(12-Dec-2008) 2Thailand7022-Dec Malaysia 1808-Feb-2012 (80)(8-Feb-2009) 4Singapore 3007-Mar-2013 (150)(23-Jul-2010) 5Indonesia100 1-Oct-2013 (23-Mar-2009) Total 1,010.0 (33.5%)* Note: The numbers in the parenthesis refer to initial swaps and the date. * The share of the entire BSA amount by China Source: People’s Bank of China.

Table 5. RMB and East Asia Currencies (2005/1~2014/11/15) IndonesiaKoreaMalaysiaPhilippinesSingaporeTaiwanThailand Variables(Rupiah/US$)(Won/US$)(Ringgit/US$)(Peso/US$)(S$/US$)(NT$/US$)(Baht/US$) Δx(-1) ** *** (-0.783)(0.407)(-0.194)(0.529)(-3.308)(0.340)(-2.791) Δx(-2) *** (-1.635)(-0.513)(-0.085)(0.789)(-1.079)(1.177)(4.979) ΔRMB0.590***0.711***0.809***0.416***0.708***0.050***0.510*** (5.631)(4.801)(11.704)(5.804)(10.915)(11.019)(8.918) Δyen-0.042**-0.159***-0.045***-0.073***0.068***0.008***0.085*** (-2.492)(-6.599)(-4.070)(-6.455)(6.496)(3.448)(9.220) D-W R Source: Author's Estimations

Table 6. East Asia Currencies Movement