Single Currency for Northeast Asia?

Some how I just don’t see this happening any time soon:

Korea, China and Japan have agreed to start joint research at government level on introducing an Asian single currency comparable to the euro. Finance Minister Han Duck-soo made the agreement with his Chinese counterpart Jin Renqing and Japan¿s Sadakazu Tanigaki on the sidelines of the 39th annual meeting of the Asian Development Bank in India.

This is the first time governments have decided to make concrete efforts toward the launch of the Asian currency unit (ACU), which only exists as a theoretical construct. So far, calls have mostly come from the private sector.

These guys can’t even agree on who owns what worthless rocks in the middle of the ocean or who did what to who historically much less agree on sharing a common currency.  I’m fairly confident that a combination of xenophobia and nationalism will sink this idea for quite some time.