Tim Geithner brands China a currency manipulator

American policymakers have long pushed Beijing to accelerate the appreciation of the yuan, arguing that China’s exchange-rate policy played a big role in creating the global imbalances and that—both for the sake of China’s economy and the rest of the world—the currency needs to strengthen. But Hank Paulson’s Treasury studiously avoided accusing Beijing of “currency manipulation”, a term that carries legal implications. Full Story »

Posted by Derek Hawkins
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Posted by: Posted by Derek Hawkins - Jan 24, 2009 - 2:27 AM PST
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Edited by: Derek Hawkins - Jan 24, 2009 - 2:27 AM PST

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Peter L. Combs
3.8
by Peter L. Combs - Jan. 31, 2009

The writer did a good albeit brief job outlining the issue of currency valuation the need for its integrity as well as the implications for the dynamics in play. The article put Mr. Geithners comments in a calmer context than they were presented while suggesting clearly he needs to think more deeply about the situation. The author articulated gently China's own position as well as the critical need for a more thoughtful relationship than Mr. Geithner is capable or willing to put forward as a first step for the fledgling administration.

Personally I feel Mr. Geithner this comment by him coupled with his personal financial dishonesty shows him to be a crooked loose cannon and someone the Obama administration and our country would not be well served by. If this is how he feels the new administration should deal with the Asian economy, its clear he is the wrong man for the job.

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Patricia L'Herrou
3.6
by Patricia L'Herrou - Jan. 31, 2009

pointing out the potential hazards and belatedness of labeling china as well as why the label had been possibly appropriate, the article demonstrates the complex difficulties of our global economy. the writer also points out that china's stimulus measures of their own mean much more. i would have wanted to see voices of economists discussing, elaborating this point.

i thought we did our own 'manipulation' in keeping the dollar weak for many years?

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Derek Hawkins
4.0
by Derek Hawkins - Jan. 24, 2009
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Li Lou
4.7
by Li Lou - Jan. 25, 2009

Economist is reputed for its balanced and fair reporting (objectivity seems to be a out-dated term these days). Especially taken into account of its stance as a publication in a third-party country in this Sino-American currency "warfare", this piece delivers a full range of perspectives on this issue. Also, the language is quite concise and brief, better than layers of quotes which we usually find in other news reports. But one thing that needs our rethinking is the common practice of most news magazine to embed comments into news reports. It is a good way to provide more interpretation to contextualize the story. But it nevertheless affects the independent judgment of the readers.

This is a very complex issue. I believe the Chinese government, under the current circumstances, is doing everything they can to offset the negative impact of global economic downturn. Chinese currency has been appreciating for a whole year with accelerating rate, under the pressure of U.S. government. This is a gesture of sincerity of the Chinese side. The American side should appreciate this and not ask too much.

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Pat Day
1.0
by Pat Day - Jan. 24, 2009

I guess it is OK but it shows that Tim Geithner is quoting old news.

This is very old news, we all know that China has long been a manipulator of its currency, most stronger stronger countries in Asia do manipulate there currency. That has been going on for 40 years.

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