How far apart are the two ACUs from each other? Asian currency unit and Asian currency union

We argue the prospects of an Asian currency unit and an Asian currency union with a comprehensive survey of the literature, an empirical analysis and a study of the European Currency Unit's (ECU) experience. Asian countries may meet optimal currency area conditions. However, many other factors along the dimensions of history, politics and economic structure should be addressed for the realization of currency unification. The ECU experience suggests that even a successful Asian currency unit requires firm political commitment and expectations of eventual currency unification.