Geithner's visit indicates brimming breakthrough

15:16, April 08, 2010      

Email | Print | Subscribe | Comments | Forum 

China's invitation for U.S. Treasury Secretary Timothy Geithner to visit Beijing and have talks with Vice-Premier Wang Qishan has observers filled with hopes that a breakthrough in key bilateral issues will come.

In the past couple of months, China and the United States have logged their heads in resolving a major trade dispute revolving with the value of China's currency, the yuan. The Obama administration, under rising domestic pressure to provide relief to near 10 percent unemployment at home, has urged China to let the yuan gain in value.

Theoretically, when the yuan is appreciated against the dollar, it will make American-made goods cheaper on China market, and therefore, drive more sales to the world's major growing market.

Secretary Geithner's last-minute retour to Beijing, after his 2-day stay in India, comes just three days before Chinese President Hu Jintao heads to Washington for an international summit on nuclear security, to be hosted by U.S. President Barack Obama. A White House spokesman has said the two leaders to confer in the sideline on bilateral issues, including the currencies.

Analysts believe that the talks between Geithner and Wang, Beijing's key negotiator with the United States, on Thursday are expected to lay an agreement, or at least conferred understanding, on the dollar-yuan exchange rates.

【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
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • 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)
Hot Forum Discussion