Timothy Geithner, the US Treasury Secretary, has said that the government cannot force China to change its currency policies. He was responding to the recent criticism that the government was not doing enough to stop China from maintaining its currency at a depressed level. [Read more…]
Chinese Premier Disapproves of US Call to Revalue Yuan
Wen Jiabao responded to Obama’s call to revalue the Yuan’s exchange rate by saying that he doesn’t think that the Chinese currency is currently undervalued and there is no need to make any changes with regards to it. Wen’s statement comes in response to Obama’s comments on Mar 11, when he urged China to adopt market driven exchange rates. [Read more…]
