Geithner Cautious On Hammering China Over Yuan

Law360, New York (September 16, 2010, 6:31 PM EDT) -- Bucking calls for a hard-line unilateral action on the weak Chinese yuan, U.S. Treasury Secretary Timothy Geithner told lawmakers Thursday that China is an important trading partner that has helped underwrite the U.S. recovery from recession.

China has so far this year pumped $53 billion into the U.S. economy, up 36 percent from 2009, Geithner told members of the House Ways and Means Committee, which has held two days of hearings on a bill that would let the U.S. impose trade sanctions over China's currency, which...
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