this chapter attempts to set out the terms of the debate on the monetary future of East Asia in general and on the role of the yuan in particular in a context of economic crisis. After a feedback on the evolution of the Yuan exchange rate management, the analysis will show that if four scenarios are possible for the future of exchange rates in East Asia, the Yuan could not explicitly play a key role in the short and medium term. On the other hand, Chinese experience of anchoring a basket of currencies between 2005 and 2008 could become a benchmark in the coming years.