Friday, May 22, 2009

The world's biggest bond salesman

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner will visit Beijing next month for two days of meetings with top Chinese officials aimed at strengthening the economic relationship between the United States and China, the Treasury Department said on Tuesday.

Geithner is due to meet top Chinese economic policymakers on June 1-2 "to discuss a range of issues of importance to both countries, including strengthening U.S.-China economic ties to promote stable, balanced and sustained economic growth in the two nations," the Treasury Department said in a statement.

The trip is Geithner's first to China since taking office.

Treasury did not specify with whom Geithner would meet, though Geithner's predecessor Henry Paulson repeatedly met Chinese Vice Premier Wen Jiabao and central bank governor Zhou Xiaochuan.

In March, Zhou caused a stir in Washington when he called for a new "super sovereign" reserve currency to replace the U.S. dollar.

Last month, the Geithner Treasury declined to label China a currency manipulator, retreating from tough talk last year when a campaigning Barack Obama said Beijing had kept its currency's exchange rate unfairly low.


Ya think Geithner is going to apologize for his accusations of Chinese government currency manipulation 15 minutes after he was appointed Treasury Secretary? After all, what does he think he and his cohorts at the Fed are doing--playing Monopoly?

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