China

    China is still resisting calls to move up its currency even as the country has started allowing the yuan to appreciate against the U.S. dollar, U.S. Treasury Secretary Timothy Geithner said.

    “They’re still heavily leaning against the forces trying to push their currency up. But they’re beginning to move. They’re moving against the dollar,” Bloomberg quotes Geithner, who added that China is starting to feel international pressure to allow its currency to rise.

    About the author

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      Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.