Us-china Relations, Currency | featured news

The Senate on Tuesday approved a bill aimed at pushing China to let its yuan currency rise in value in the hope of saving American jobs, sending it to the House of Representatives where its fate is uncertain.

WASHINGTON (Reuters) - Chinese President Hu Jintao urged an end to a "zero sum" Cold War relationship with the United States and proposed new cooperation, but resisted U.S. arguments about why China should let its currency strengthen.

China's yuan currency remains "substantially undervalued" and it is in Beijing's own interest to let it appreciate more rapidly to ward off inflation risks, U.S. Treasury Secretary Timothy Geithner said on Wednesday.

Concluding that China has little intention of working with the United States on issues like currency, trade and security, the administration is building coalitions to confront China.

The Obama administration backed away on Friday from a showdown with Beijing over the value of China's currency that would have caused new frictions between the world's only superpower and its largest creditor.

Treasury Secretary Timothy Geithner will visit Beijing on Thursday for talks with a Chinese vice premier for economic affairs, ...

President Barack Obama said on Wednesday it was important to address currency rates with trading partners such as China to ensure U.S. goods were not facing a disadvantage.

U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.

A Chinese central banker denounced accusations by U.S. Treasury Secretary-designate Timothy Geithner that China was manipulating its yuan currency, calling them misleading and warning against "excuses" for protectionism.