Financial Times FT.com

Obama’s first 100 days

US says China ‘manipulating’ renminbi

By Alan Beattie in Washington and Geoff Dyer in Beijing

Published: January 22 2009 16:41 | Last updated: January 22 2009 21:28

Tim Geithner, President Barack Obama’s choice for Treasury secretary, on Thursday accused China of “manipulating” its currency and pledged “aggressive” diplomatic action to drive Beijing into action.

The comment – a politically loaded term likely to raise tensions with Beijing – marked the Obama administration’s first public intervention in what will be one of its most critical international economic relationships.

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