U.S. set to be a posse of one on China yuan at G20

[Francesca9]

Source: Reuters

Treasury Secretary Timothy Geithner faces a lonely campaign to make China's currency a major issue at the next Group of 20 summit as would-be allies shrink from confronting Beijing.

Pressured by U.S. lawmakers, Geithner vowed last week to mobilize countries at the November 11-12 summit in South Korea to press China for faster appreciation of the yuan.

Interviews with officials from G20 countries suggest that Geithner -- who has acknowledged that few countries are willing to confront China -- could be leading a posse of one in Seoul.

Read more: http://www.reuters.com/article/idUSTRE68P1F220100926

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Time to get the diplomacy into high gear!

[xchrom]

1. For those who know - does it help/hurt europe

If the Chinese revalue the yuan?

[Francesca9]

2. The effects on the US and Europe are the same

[nyy1998]

5. Like Francesca said, it will affect Europe similarly to the US

If China boost their currency value, they're(EU and USA) products will be much more competitive. And the best way for us to recover the economy is import our way out of it, but China will have none of it.

[Francesca9]

6. This is about jobs in the US or jobs in China

A devalued yuan means that private savings and pensions get hammered - but that Chinese jobs are favored. China has few pensions or private savings invested into the yuan, so it is a good deal for China.

Obama is correct, abuse needs to stop.

[nyy1998]

9. Excellent point, couldn't agree more.

[Fearless]

3. Well it's not like we're supporting others why should they support us?

[Francesca9]

4. Fear

[Fearless]

7. Umm.. I hope that was sarcasm.

[Francesca9]

8. Not sarcasm, many fear China

Only Obama is brave enough to take on the Chinese lion

[Fearless]

10. ........... n/t