Tim Geithner, US Treasury secretary, welcomed a commitment by Asia-Pacific ministers to flexible exchange rates even as his Chinese counterpart praised the renminbi’s peg for helping the global recovery. Finance ministers from Apec countries on Thursday endorsed  “market-oriented exchange rates that reflect economic fundamentals” but carefully avoided confrontation with China over its dollar currency peg. China’s central bank on Wednesday acknowledged the case for a strengthening of the renminbi.

This entry was posted by Gwen Robinson on Friday, November 13th, 2009 at 4:49 and is filed under Capital markets, People. Tagged with Tim Geithner. Edit this entry.