Geithner says world economy needs China yuan reform

Treasury Secretary Timothy Geithner, delivering his sharpest criticism of China's exchange rate policies in months, said on Thursday the yuan's value was "critically important" for the world economy

US Treasury Secretary Timothy Geithner on Thursday called for more flexible exchange rate policies at a Group of 20 meeting in China, saying it was crucial to global monetary system reform.Geithner did not explicitly single out China in his remarks at a G20 seminar on international monetary reform attended by ministers and central bankers, but hinted that Beijing needed to loosen its grip on the yuan.

US Treasury Secretary Timothy Geithner urged China on Saturday to let the yuan appreciate as a critical part of its economic reforms.Geithner, speaking after a Group of 20 finance ministers' meeting, said the grouping had discussed "a more flexible exchange rate policy" in China.He said revaluing the yuan was an important part of wider economic reforms pursued by Beijing to make its economy less dependent on exports and drive up domestic demand.

US Treasury Secretary Timothy Geithner urged China on Saturday to let the yuan appreciate as a critical part of its economic reforms.Geithner, speaking after a Group of 20 finance ministers' meeting, said the grouping had discussed "a more flexible exchange rate policy" in China.He said revaluing the yuan was an important part of wider economic reforms pursued by Beijing to make its economy less dependent on exports and drive up domestic demand.

US Treasury Secretary Timothy Geithner on Thursday called for more flexible exchange rate policies, saying an "asymmetry" in the current global financial system created difficulties.Geithner did not explicitly single out China in his remarks at a Group of 20 seminar on international monetary reform attended by ministers and central bankers, but hinted that Beijing needed to loosen its grip on the yuan.