| From Washingtonpost.com: The Obama administration is trying to escalate international pressure on China to change how it manages its currency, casting a global focus on what U.S. officials say has become a major risk to the economic recovery.
Calling the currency issue the "central existential challenge" facing the world economy, Treasury Secretary Timothy F. Geithner acknowledged that the administration's effort to settle the one-on-one spat through quiet diplomacy had failed and marked a new phase in the struggle with Chinese officials..............................................Full Article: Source
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