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Bailout

: Calculated Risk

Obama pushes China on exchange rate

By Anonymous

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From David Sanger at the NY Times: With Warning, Obama Presses Chinese Leader on Currency
President Obama increased pressure on China to immediately revalue its currency on Thursday, devoting most of a two-hour meeting with China?s prime minister to the issue and sending the message, according to one of his top aides, that if ?the Chinese don?t take actions, we have other means of protecting U.S. interests.?

But Prime Minister Wen Jiabao barely budged ...
The old imbalances have returned - as the trade data and west coast port traffic data show - but I don't have much confidence that the Chinese will take action.

Full post as published by Calculated Risk on September 24, 2010 (boomark / email).

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