Barefoot Investor: Geithner urges China to move faster on currency

WASHINGTON: Treasury Secretary Timothy Geithner says that China needs to make more progress on economic issues vital to America's interests, including speeding up the rise of its currency against the dollar.

Critics say an undervalued yuan is swelling China's trade surplus. Geithner said Tuesday that a stronger yuan also would help China restrain inflation.

Geithner is previewing administration goals ahead of annual talks next week between the two countries on economic and foreign policy issues. He called on Beijing to honor commitments that Chinese President Hu Jintao made in a January meeting with President Barack Obama in such areas as protecting American firms' intellectual property rights and technology.

The Treasury secretary says the administration also will press for reforms of China's financial system. - AP


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