· China/US relations - Sen Schumer and some of his colleagues have sent a letter to Geithner urging the TSY Sec to release a report next week at the strategic US-Beijing talks that would reveal China to be an FX manipulator; if anything, the recent decline in the euro has reduced China’s appetite for an adjustment and this latest Schumer development may re-heighten tensions (Reuters)
· China/US relations – Geithner will press China on trade during meetings next week; the TSY Sec will ask China to improve the climate for US firms doing business in China. The China yuan may not dominate the talks as was originally expected due to renewed worries out of Europe. WSJ
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