| From WSJ: Treasury Secretary Timothy Geithner said Monday the U.S. would not "engage" in devaluing its currency, but described China's currency as "significantly undervalued," as tensions between China and other countries remain high in advance of meetings of finance ministers and central bankers in South Korea this weekend.
Mr. Geithner's comments were among his most blunt on the Chinese currency and his sharpest retort to recent criticism from some countries that the U.S. government is pursuing policies aimed at reducing the value of the dollar to spur exports and economic growth..............................................Full Article: Source |