This is amazing!!! if china strengthen yuan, they will send the chinese inflation BACK to the US, and he is asking for it!!!!!!!!!!!!
Better read it.
Ahead of next week’s visit to Washington by Hu Jintao, China's president, Mr Geithner said the Eastern country needs to strengthen the “substantially undervalued” yuan because it puts other countries at a competitive disadvantage.
The yuan has climbed about 3pc against the dollar since officials in June scrapped a peg which had been in place since the global financial crisis.
Taking inflation into account, the yuan is rising at a rate of about 10 percent a year, “so if that appreciation was sustained over time, it would make a very substantial difference”, he added.
Mr Geithner warned that China faces inflation problems that are of global concern. Inflation accelerated to 5.1pc in November from a year earlier, the biggest jump in 28 months, driven by higher food costs.
“China presents enormous economic opportunities for the United States and for the world, but its size, the speed of its ascent, and its policies are a growing source of concern in the United States and in many other countries,” he said.
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