My Guess Is Timmy Won't Be Invited To China's Party
Does Tim Geithner think being able to speak the language is the only requirement necessary to get China to bow to our awesomeness and stop being so damn cheap? Please, we created this beast and NOW we're whining about it. That's cute.
Check it (Reuters):
The Obama administration will keep up pressure on Beijing over its currency policy, the White House said on Thursday, after Chinese imports into the United States hit a record high in August.
"There's no doubt that the president, the secretary of the treasury and others will continue to put pressure on the Chinese government to live up to its obligations," White House spokesman Robert Gibbs told a media briefing.
Treasury Secretary Timothy Geithner has said he will push for progress on increasing the flexibility of the Chinese yuan currency during meetings of the Group of 20 rich and emerging industrial powers in South Korea.
U.S. lawmakers say Beijing keeps its currency artificially cheap against the dollar to help its exports, at the expense of American jobs.
Meanwhile, leaders in China will be meeting to discuss their goals in the next 5 years. Of course the economy is a hot topic but without being familiar with what's on their minds going into the meeting my guess is "appeasing Tim Geithner's whiny whims" is low on their priority list.
How's that working out for us?