US problem with China currency by Zivka Deleva

The United States of America are working on the lobbying among the twenty countries that are gathering at the next Summit that will be held in South Korea at the November 11-12. The Treasury Secretary Timothy Geithner created a bigger campaign how to persuade the other friends from the group to put bigger pressure on Beijing policy and its strong currency. The pressure came from US lawmakers that wanted to force their most important financial institution to put some efforts to make China’s economics weaker. But, everybody is wandering whether US are going to succeed in the plan, because as euro zone countries declare, it seems like US are solo in game. And you can! 217;t fight a game when you are on your own. It seems like US should protect their dollar with their own forces and knowledge and not to look for a help all the time. But even once superior States are no longer so powerful to come through things on their own, so they call for help. One thing is for sure, the United States of America is going to have the bigger advantage with the weaker Yuan. China’s Yuan was anyhow put to be a topic at the meeting. It was suggested by South Korean Finance Minister Yoon Jeung-hyun. The issue of the exchange rates was going to be the most important issue on the Forum. "But aside from that, I do not believe that it is appropriate to have a discussion regarding the foreign exchange rate or level of a specific country" - Yoon said in an interview with Reuters. The problem came when in June, when China central bank announced that their currency was going to fluctuate easily, rising 1.8 percent.

by Zivka Deleva for Cantell TV (http://cantell.tv)

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