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US Treasury chief Geithner to visit China June 1-2
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US Treasury chief Geithner to visit China June 1-2
AFP - Wednesday, May 13
WASHINGTON (AFP) - - US Treasury Secretary Timothy Geithner will make his first official visit to China for talks June 1-2 as the two nations step up a high-level economic dialogue, his office said Tuesday.
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Geithner will travel to Beijing and meet senior Chinese officials and discuss "a range of issues of importance to both countries," according to a Treasury statement.
These include "strengthening US-China economic ties to promote stable, balanced and sustained economic growth in the two nations," the statement said.
The visit will be Geithner's first to China since taking office on January 26.
The mission continues the high-level discussions on economic cooperation begun under the administration of president George W. Bush.
Before taking office, Geithner created a stir when he said during his confirmation hearings that China is "manipulating" its currency to gain an advantage in trade.
He later toned down those remarks as US officials pledged to work closely with China to combat the global economic crisis.
Last month, a Treasury report said that China had not manipulated its currency to snare a competitive advantage but it remained undervalued.
President Barack Obama last month sought to broaden the US relationship with China with the launch of a new dialogue.
Obama and Chinese President Hu Jintao agreed to "strengthen ties at all levels," and indicated that US Secretary of State Hillary Clinton and Geithner would meet once a year for talks with senior Chinese counterparts Dai Bingguo and Wang Qishan.
He pledged that the dialogue would not sweep sensitive matters under the carpet, saying the United States would take up concerns about human rights and China's rapid growth in military spending.
The Obama team has accused the Bush administration of focusing exclusively on the economy with China. The prior administration had launched a regular strategic economic dialogue in 2006 led by then-treasury secretary Henry Paulson.
Among the economic issues that have caused friction is China's currency -- which some US lawmakers say is kept too low, boosting Beijing's advantage in trade and creating big commercial imbalances.
The latest report on US trade showed that the deficit with China, the second-largest US partner, jumped to 15.6 billion dollars in March from 14.2 billion in the prior month.
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