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Geithner Prepares to Meet With Chinese Leaders
The Treasury announced on Wednesday that Mr. Geithner has meetings scheduled with President Hu Jintao, Premier Wen Jiabao and Vice Premier Wang Quishan. He will also promote American business interests and press the case for both countries, which are the world’s biggest emitters of the heat-trapping gases that contribute to climate change, to work to limit the pollution.
During his Senate confirmation hearing in January, Mr. Geithner vexed Chinese officials when, in written answers to questions from senators, Mr. Geithner wrote that “President Obama — backed by the conclusions of a broad range of economists — believes that China is manipulating its currency.”
Under a 1988 law, if the administration formally reports to Congress that China is intentionally holding down the value of its currency, the renminbi, and in turn the price of its exports, such a finding could lead to the imposition of trade barriers.
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Source: The New York Times Online
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