Lawmakers Grill Geithner on China Currency Stance
Sought Treasury Secretary Timothy Geithner to convince skeptical lawmakers Thursday that he take a tougher line on China’s currency and trade policies, but warned that Beijing is under pressure from Washington may backfire.
Hit in the tougher tone after his longtime flashpoint in relations between the United States and China, said Geithner hearing in the Senate that the yuan was to strengthen the very slowly and the Obama administration was looking for ways to get Beijing to move faster.
Lawmakers weighing a new law to punish China’s currency practices, which they say the yuan is artificially kept Geithner grilled at a low altitude over why he was held from officially brand China “currency manipulator”, and urged to take concrete action on the part of the Obama administration.
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