Related article ~ March 31st ~ G-20 meeting will be held in Nanjing, China ... March 26, 2011
Broad discussions for Geithner in China
U.S. Treasury Secretary Timothy Geithner's upcoming trip to China will cover broad economic issues, the department said.The trip to Nanjing, China, announced this week, will include discussions on «the global outlook and the economic relationship between the two countries,» the Treasury announced.
U.S. Treasury Secretary Timothy Geithner's upcoming trip to China will cover broad economic issues, the department said.
The trip to Nanjing, China, announced this week, will include discussions on the global outlook and the economic relationship between the two countries, the Treasury announced.
The Hill newspaper said Saturday that the March 31 trip comes on the heels of the Treasury's decision in February not to list China as a currency manipulator, which would give Congress permission to impose trade sanctions designed to overcome an imbalance in Chinese and U.S. currencies.
Geithner has frequently said China's currency is undervalued, which gives Chinese goods a considerable economic edge in the U.S. market and makes U.S. goods more expensive in China.
http://www.upi.com/Business_News/2011/03/26/Broad-discussions-for-Geithner-in-China/UPI-39421301149942/
China moves G-20 monetary seminar to Nanjing
PARIS - CHINA is going ahead with a G-20 seminar on March 31 to develop ideas on reshaping the global monetary system, but has moved it to the city of Nanjing, near Shanghai, a French government source said on Friday.
The Chinese-hosted gathering of academics, economists, central bankers and finance ministers, previously planned for the city of Shenzhen, will give a symbolic push to one of the key planks of France's Group of 20 presidency.
French President Nicolas Sarkozy, who wants a fully fledged debate under his G-20 stewardship on how to improve on an outdated Bretton Woods system, is expected to open the seminar.
It is unclear how many finance ministers will attend, but representatives of non-G-20 countries with key roles in currency markets, like Switzerland, are likely to be present.
'China has invited all the ministers and central bankers,'the source said.
'It's not a G-20 meeting so they won't all go, but those that can will go.'
The position of the world's No. 2 economy will be crucial for how much progress France makes on its G-20 goals of setting out ways to measure economic imbalances, improving transparency in commodity markets as a step towards curbing price volatility and pushing ideas on monetary reform.
China's reluctance to include exchange rates and currency reserves on a list of indicators to gauge imbalances meant only a hard-fought compromise enabled finance ministers to reach a deal at France's first G-20 meeting last weekend.
China's reluctance to include exchange rates and currency reserves on a list of indicators to gauge imbalances meant only a hard-fought compromise enabled finance ministers to reach a deal at France's first G-20 meeting last weekend.
Nanjing is one of China's biggest business cities and will also host the 2014 Youth Olympic Games.
March 31st ~ China moves G-20 Monetary Seminar to Nanjing, China ...
March 31st ~ China moves G-20 Monetary Seminar to Nanjing, China ...
