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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Geithner arrives in China for economic talks AFP - Sunday, October 24 Send IM Story Print Geithner arrives in China for economic talks Slideshow: Full Photo Coverage: Business & Economy BEIJING (AFP) - – US Treasury Secretary Timothy Geithner was in China Sunday for talks with Vice Premier Wang Qishan that were expected to touch on the sensitive issue of the value of the yuan. Geithner was met by Wang at the airport in China's eastern coastal city of Qingdao with both officials immediately heading off for a working lunch, treasury spokesman Steven Adamske told AFP. The two were discussing bilateral economic issues and "a lot of different things," Adamske said. This would likely include China's currency, the yuan, which Washington believes is being kept grossly undervalued in order to help Chinese exporters. China counters that irresponsibly loose US monetary policy is driving down the dollar and causing a wave of capital to flood emerging markets in search of higher yields. Sunday's meeting comes after Geithner attended the just concluded Group of 20 finance ministers meeting in Gyeongju, South Korea. In a statement released late Saturday, the US Treasury chief said the G20 meeting agreed that a "gradual appreciation" in the currencies of major trade-surplus nations was required. "Countries with significantly undervalued exchange rates committed to move towards more market-determined exchange-rate systems that reflect economic fundamentals, as China is now doing," Geithner said in a statement. But further efforts to stabilise international economic imbalances were necessary if the recovery from the global financial crisis was going to be successful, he added. "This requires a shift in growth strategies by countries that have traditionally run large trade and current account surpluses, away from export dependence and toward stronger domestic demand led growth," Geithner said. "This entails a range of policy changes, as you can see in the very broad range of domestic reforms being undertaken by China." Recommend Send IM Story Print Related Articles Deadlock in UN biodiversity talks in Nagoya AFP - 2 hours 51 minutes ago Rio targets Australia iron ore after BHP bid lapse AFP - Monday, October 25 Geithner arrives in China for economic talks AFP - Sunday, October 24 India ready to seal nuke deal, boost Japan trade AFP - Sunday, October 24 China's massive commodities appetite moves markets AFP - Sunday, October 24 News Search Top Stories Alonso wins in Korea, takes F1 championship lead It's a boy, and another boy for pop star Celine Dion More than 200 dead in Haiti cholera epidemic: official Police hurt in clashes over Italy garbage dump WikiLeaks defends Iraq files as exposing 'truth' More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Sharapova nets Lakers' guard Vujacic Moon's 'treasure chest' includes silver It's a boy, and another boy for pop star Celine Dion Tigers could be extinct within 12 years: WWF WikiLeaks defends Iraq files as exposing 'truth' More Most Viewed » Time, like all good things, may come to an end: study Too much TV psychologically harms kids: study Iranian chocolate thief 'to have hand chopped off' Ancient galaxy is more than 13 billion light years away British lottery winner gets record 129 mln euros More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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