Comments on Barry Eichengreen “Can Asia Free Itself from the IMF?” 30/06/2009, http://www.eastasiaforum.org/2009/06/30/can-asia-free-itself-from-the-imf/
In terms of location for such an Asian financial institution, Hong Kong may be a good candidate.
Although Hong Kong is part of China, it and Macau all have a special status of special administrative regions in China. It requires “Hong Kong” Visa to visit and even mainland Chinese people are not free to visit without an appropriate travel document.
It was a British colony for a long time. It is a more neutral place than any other places in East Asia.
Hong Kong has also been a regional financial centre. So there are both physical and human infrastructures there. It is also located in the middle of East Asia geographically.
Why not make Hong Kong a permanent place for Asian institutions? Why not China and other countries negotiate to make Hong Kong such a neutral place for all Asians to benefit, with China retaining its sovereignty, but otherwise letting Hong Kong be a place as it is now for the future to come?
With huge land, it could be possible for China to make more land available for such a special region.
I think all stakeholders should consider Hong Kong as a perfect candidate.