Treasury Secretary Geithner says China is likely to let currency appreciate
A revalued yuan would address a long-sought U.S. goal that could help boost American exports and create more jobs.
By Don Lee
Reporting from Washington ? Treasury Secretary Timothy F. Geithner said Thursday that China was likely to let its currency appreciate -- addressing a long-sought U.S. goal that could help boost American exports and create more jobs.
Though Geithner didn't specify when he expected Beijing to loosen its grip on the yuan, his statement to the Senate Budget Committee struck an optimistic note against a background of deepening tensions with Beijing, partly over economic policy but also over arms sales to Taiwan and President Obama's plans to meet with the Dalai Lama.
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