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Treasury Hitting Hard At China?

1.29.2009


This is going to be interesting. Geithner statements could very well be true, but do we want to make an enemy out a country that basically become our bank?


Geithner Hints at Harder Line on China Trade - NYTimes.com
"Timothy F. Geithner stated that the president believed that China was “manipulating” its currency, signaling a more confrontational approach to a delicate issue.

Mr. Geithner’s comment was made in writing to the Senate Finance Committee hours before it voted 18 to 5 to recommend that the full Senate confirm him. The statement, which is certain to anger the Chinese government, comes at a particularly sensitive time, with economies in both the United States and China weakening and tensions already rising around the globe over trade. The United States, moreover, is increasingly dependent on China to finance its ballooning deficit."
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