US to decide soon on China's yuan status
27-01-2009
President Barack Obama's new administration says it'll determine "in the spring" whether China is manipulating its currency. White House spokesman Robert Gibbs said the administration had not set its policy on the perennial controversy of the yuan's value, despite a stir caused by remarks by the treasury secretary designate Timothy Geithner last week. According to the spokesman, Mr Geithner was restating what Mr Obama had said during the election campaign. A formal designation that a country is manipulating its currency to gain an unfair trade edge could trigger US sanctions.
