Yuan revaluation "China's choice" -Geithner

U.S. Treasury Secretary Timothy Geithner said he was confident that China would see that it is in its own interest to make the yuan more flexible, while Beijing stoutly defended its currency policy.

Geithner, who said global economic recovery "looks quite strong now," also said on Tuesday it was "China's choice" whether or not it revalues the yuan.

"As I said before and I'll say it again, but I want to make sure I am repeating myself, I am confident that China will decide it's in their interest to resume the move to a more flexible exchange rate that they began some years ago and suspended in the midst of the crisis," he told India's NDTV.

In Beijing, a Foreign Ministry spokeswoman and two government economists held out the prospect of the yuan being allowed to resume its rise after a 20-month pause but said at separate briefings that China would proceed with caution and on its own terms.

Read Full Article from Reuters

- Posted: 2010-04-06 10:29:05

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