Geithner's visit indicates brimming breakthrough

15:16, April 08, 2010      

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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.


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(Editor:赵晨雁)

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