Economists see possible turnaround in U.S.-China currency row

16:57, April 06, 2010      

Email | Print | Subscribe | Comments | Forum 

The U.S. decision to delay its report on exchange rate policies could bring a turnaround in the recent currency dispute with China, economists believe.

Treasury Secretary Tim Geithner announced Saturday to delay a report to Congress on international economic and exchange rate policies, which might indicate whether China is manipulating its currency exchange rate.

The report was originally scheduled for April 15.

U.S. President Barack Obama's top economic adviser Lawrence Summers said Sunday that Geithner's decision was a right one as the United States will hold a series of high-profile meetings with China in the next three months.

Those meetings include a Group of 20 (G20) meeting of finance ministers and central bank governors in Washington later this month, a Strategic and Economic Dialogue (S&ED) with China in May, and a G20 summit in June.

Summers said strengthened negotiations with China and other countries is the best way to safeguard U.S. interests.

Wang Yong, a researcher at Beijing University, told Xinhua that the Untied States has realized that pressuring China on its currency policy would not solve the problems.

Once the U.S.-China currency issue escalates, it will affect not only trade and investment of the two countries, but also the regional and global economy as well, Wang said.

[1] [2]


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
  • Actress Huang Jieqiong performs at the opening ceremony of the Second Ecological and Cultural Tourism Festival in Enshi Tujia and Miao Autonomous Prefecture, central China's Hubei Province, Sept. 26, 2011. (Xinhua/Hao Tongqian)
  • Photo taken on Sept. 27, 2011 shows the Erqi Yangtze River Bridge in Wuhan, capital of central China's Hubei Province. The two sections of the bridge were joined on Tuesday. The seventh cross-Yangtze River bridge of Wuhan City is the largest three-tower cable-stayed bridge with 616 meters of main span. The bridge is expected to be put into operation in the end of 2011. (Xinhua/Xiao Yijiu)
Hot Forum Discussion