Geithner and China's Wang discuss economy in phone call: report

Reuters News
Posted: Oct 18, 2011 12:58 AM

BEIJING (Reuters) - United States Treasury Secretary Timothy Geithner and Chinese Vice Premier Wang Qishan discussed economic relations and the international outlook in a phone call on Tuesday Beijing time, China's official Xinhua news agency reported.

The brief report did not give any details of the discussions between Geithner and Wang, who plays a key role in steering Beijing's financial and economic policies.

The U.S. Treasury Department said on Friday it would delay until later this year a ruling on whether China is manipulating its yuan currency, which Democratic Party lawmakers have sought to target in a bill that would punish Beijing for foreign exchange controls.

Beijing has repeatedly decried the U.S. legislation, which would let Washington slap countervailing duties on goods from nations deemed to subsidize exports by undervaluing their currencies, including China's yuan, which many lawmakers say is held drastically low against the dollar.

There was no announcement about the phone conversation on the U.S. Treasury Department's website.

Geithner said last month that China is holding to a decades-old strategy to steal American intellectual property, in a pointed statement reflecting U.S. officials' growing impatience with Beijing.

(Reporting by Chris Buckley; Editing by Ken Wills)