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US, China to hold economy meeting in May

AFP [1]
April 26, 2011

Top officials from the United States and China will meet in Washington early next month, the Treasury Department said Monday, as tensions between the two economic superpowers simmer.

Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton will host Chinese Vice Premier Wang Qishan and State Councilor Dai Bingguo, amid continued tensions over debt, exports and the value of China’s currency.

The Treasury Department has delayed the publication of a report that could lead to sanctions against Beijing until after the meeting, despite US lawmakers complaining that China is still manipulating its currency for trade advantage.

The semi-annual report, which was due on April 15, has become a focal point for critics who accuse Beijing of unfairly keeping the yuan weak against the dollar to boost Chinese exports.

Full article here [1]

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