October 1, 2010Geithner Says No Trade or Currency War with China
U.S. Treasury Secretary Timothy Geithner said the Chinese currency was on track for significant appreciation (FT) against the U.S. dollar and stressed there would be no "trade war" or "currency war" between the United States and China, after Beijing reacted to a bill passed by the U.S. House of Representatives aimed at punishing China for an undervalued yuan.
This Backgrounder examines China-U.S. economic imbalances.
_North/South Korea: In a sign of a possible easing tensions between North and South Korea, the two countries agreed to hold a reunion of family members (KoreaTimes) displaced by the Korean War following two rounds of failed talks.
Tensions on the Korean peninsula need to be managed carefully so that growing South Korean and U.S. intolerance for Korean belligerence doesn't lead to unintended military escalation.
