GEITHNER ‘CONFIDENT’ CHINA TO ALLOW YUAN RISE AGAINST DOLLAR
Mike Dorning
Bloomberg – Business Week, May 15, 2010
U.S. Treasury Secretary Timothy F. Geithner said he is “confident” China will allow the value of the yuan to rise against the dollar.
“It is in China’s interest that they move to let their exchange rate start to gradually reflect market forces,” Geithner said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend. “I’m confident they’re going to do that.”
Geithner, who last month delayed a report that may have branded China a currency manipulator, is scheduled to meet with Chinese Vice Premier Wang Qishan in Beijing on May 24-25.
China, the world’s fastest-growing major economy, halted the currency’s 21 percent, three-year advance against the dollar in July 2008 to help exporters weather recessions in the U.S., Europe and Japan. Chinese authorities have kept the currency at about 6.8 to a dollar, a policy that has blunted the competitiveness of Asia’s export-dependent nations, whose currencies have appreciated this year.
(...) [artículo aquí]
Mike Dorning
Bloomberg – Business Week, May 15, 2010
U.S. Treasury Secretary Timothy F. Geithner said he is “confident” China will allow the value of the yuan to rise against the dollar.
“It is in China’s interest that they move to let their exchange rate start to gradually reflect market forces,” Geithner said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend. “I’m confident they’re going to do that.”
Geithner, who last month delayed a report that may have branded China a currency manipulator, is scheduled to meet with Chinese Vice Premier Wang Qishan in Beijing on May 24-25.
China, the world’s fastest-growing major economy, halted the currency’s 21 percent, three-year advance against the dollar in July 2008 to help exporters weather recessions in the U.S., Europe and Japan. Chinese authorities have kept the currency at about 6.8 to a dollar, a policy that has blunted the competitiveness of Asia’s export-dependent nations, whose currencies have appreciated this year.
(...) [artículo aquí]
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