White House Aims to Defuse Furor Over China's Yuan Policy

[Coventina]

Source: Wall Street Journal

WASHINGTON -- The White House tried to play down criticism of China's currency policies by Timothy Geithner, President Barack Obama's nominee to be Treasury secretary.

The White House, noting it wants to establish a "comprehensive" economic relationship with China, said it won't make a determination about that country's currency until Treasury provides a report to Congress in the spring.

White House Spokesman Robert Gibbs avoided repeating the view of Timothy Geithner, who said in written testimony for his confirmation hearings that President Obama, "backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency." Though the U.S. has long pushed China to move to a market-based system for managing the yuan, it has resisted officially branding Beijing a manipulator.

Over the weekend, a top official in China's central bank, alluding to Mr. Geithner's comments, said the charge that Beijing manipulates its currency was inaccurate and implied there were bigger issues to address in the global financial crisis.



Read more: http://online.wsj.com/article/SB123302229297218289.html?mod=googlenews_wsj

[blue97keet]

1. Geithner gave an honest answer to something?

I opposed Geithner's appointment, but gee he actually told the truth about something and got "played down".