After his comments about the yuan rate caused a firestorm, U.S. Treasury Secretary Timothy Geithner phoned Chinese Vice Premier Wang Qishan and other foreign officials to express his desire for a close dialogue in finding solutions to the economic crisis. From Reuters:
“The two agreed that strong cooperation on macroeconomic financial and regulatory matters was an essential part of the U.S. relationship with China and that it was important to sustain close dialogue, particularly at this time of global financial turmoil,” the Treasury said in a statement.
Geithner, in documents that followed up on his confirmation hearing last month, stirred controversy with Chinese officials by saying President Barack Obama believes China is “manipulating” its currency and would push for changes in its practices.
The comment drew a swift rebuke and a denial from Beijing, and was followed a few days later by a phone call from Obama to Chinese President Hu Jintao. The Treasury’s statement on Monday did not mention currency issues.
