{"id":31607,"date":"2009-01-22T15:24:17","date_gmt":"2009-01-22T22:24:17","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=31607"},"modified":"2009-01-22T15:24:17","modified_gmt":"2009-01-22T22:24:17","slug":"obama-china-%e2%80%98manipulating%e2%80%99-the-renminbi","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2009\/01\/obama-china-%e2%80%98manipulating%e2%80%99-the-renminbi\/","title":{"rendered":"Obama: China \u2018Manipulating\u2019 the Renminbi"},"content":{"rendered":"

Amid speculation of how U.S.-China relations will shift under Obama, Tim Geithner, the new choice for Treasury Secretary has given some indication of the new administration’s priorities. From the Financial Times<\/a>:<\/p>\n

\nIn a written response to questions from senators, Mr Geithner, whose nomination was supported on Thursday by a clear majority of the Senate\u2019s finance committee, said: \u201cPresident Obama \u2013 backed by the conclusions of a broad range of economists \u2013 believes that China is manipulating its currency.\u201d Mr Obama would \u201cuse aggressively all the diplomatic avenues open to him to seek change in China\u2019s currency practices\u201d, he said.<\/p>\n

The price of long-term US Treasury bonds fell after Mr Geithner\u2019s remarks, with some traders concerned that Beijing might ease up its purchase of US assets. China is the largest foreign holder of US Treasuries after Japan, and more than half of the $5,500bn Treasury market is held by foreign investors.<\/p>\n

Mr Geithner stopped short of pledging that the US Treasury would formally name China as an exchange rate manipulator in its annual currency report, due in the spring. \u201cThe question is how and when to broach the subject in order to do more good than harm,\u201d he said.<\/p><\/blockquote>\n

See also “Remarks by Geithner \u2018will anger China\u2019<\/a>” from the FT. Tim Geithner studied East Asian Studies and has studied Chinese language as well. Read more about him <\/a>via Wikipedia.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid speculation of how U.S.-China relations will shift under Obama, Tim Geithner, the new choice for Treasury Secretary has given some indication of the new administration’s priorities. From the Financial Times: In a written response to questions from senators, Mr Geithner, whose nomination was supported on Thursday by a clear majority of the Senate\u2019s finance […]<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2],"tags":[1482,7664,4781,5837],"class_list":["post-31607","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","tag-currency-revaluation","tag-timothy-geithner","tag-us-economy","tag-us-treasury","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\nObama: China \u2018Manipulating\u2019 the Renminbi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2009\/01\/obama-china-\u2018manipulating\u2019-the-renminbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Obama: China \u2018Manipulating\u2019 the Renminbi\" \/>\n<meta property=\"og:description\" content=\"Amid speculation of how U.S.-China relations will shift under Obama, Tim Geithner, the new choice for Treasury Secretary has given some indication of the new administration’s priorities. 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