Geithner: China Has Done ‘Very Little’ on Yuan

China has made “very, very little” progress on letting the exchange rate of the yuan reflect market forces, U.S. Treasury Secretary Geithner said in remarks published in the Wall Street Journal on Monday.

In an interview conducted on Friday, Geithner was asked whether he was satisfied with China’s progress on the issue after it pledged in June to let the yuan trade more freely, Geithner replied: “Of course not.”

“China took the very important step in June of signaling that they’re going to let the exchange rate start to reflect market forces. But they’ve done very, very little, they’ve let it move very, very little in the interim,” he said.

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1 Comment on Geithner: China Has Done ‘Very Little’ on Yuan

  1. Geithner is a Girly-Man, he had the opportunity to confront China about manipulating their currency, and he was scared sh!tless to do it. This guy (Geithner) is a total loser-head that should be sharing a cell with Wesley Snipes for tax evasion, instead he has top position in our government. Only in America.

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