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U.S. Officials Try to Resolve Chinese Currency Dispute

BEIJING (AP) - The Treasury Department isn't saying whether Treasury Secretary Timothy Geithner and a Chinese vice premier discussed currency today.

A Treasury official says they met for about 75 minutes at the Beijing airport.

The U.S. and China have been exchanging words over China's currency controls. When China's currency is undervalued, it makes Chinese goods cheaper for U.S. consumers but hurts U.S. exporters by making their products more expensive in China.

Whether or not the issue came up during today's meeting in Beijing, the discussions of economic ties are a sign that the two sides might be hoping to narrow their differences on the currency controls.

Still, analysts say China isn't likely to take any immediate steps to let its currency start rising against the dollar -- since those steps could be seen as Beijing bowing to outside pressure.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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