Mad dog barking

Geithner warns Beijing on currency policies

Geithner says undervalued Chinese currency is increasing inflation risks in China

WASHINGTON (AP) -- China's currency is substantially undervalued and Beijing is moving too slowly to fulfill its promise to let it rise, Treasury Secretary Timothy Geithner said Wednesday.
Geithner said it's in China's own interests to accelerate the pace of currency reform. He said the undervalued yuan is increasing the risk of inflation that will harm Chinese growth.
Geithner addressed a range of economic policy issues at the center of U.S.-Chinese relations in a speech advancing Chinese President Hu Jintao visit to Washington next week.
In addition to the currency issue, he mentioned widespread theft of U.S. intellectual property in China, Beijing's protection policies that hurt U.S. exporters, and accusations that the government provides subsidies to Chinese businesses that violate World Trade Organization rules.
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Comment: Better stop before its too late. Biting the hand that feeds you can be harzardous to your well-being.