Submitted by susan2010 on April 8, 2010 - 10:07pm
BEIJING - Vice-Premier Wang Qishan met US Treasury Secretary Timothy Geithner in the Chinese capital on Thursday and discussed economic ties.
In a brief statement after their meeting, the Treasury Department did not say whether the two sides discussed currency issues.
The Chinese Ministry of Finance could not be reached for comment.
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Geithner had been expected to press Washington's case for Beijing to ease exchange rate controls that critics alleged distorted trade.
Geithner, who stopped in Beijing after a two-day visit to India, left for Washington after the meeting.
A Treasury official in Washington said Geithner and Wang met for 75 minutes in the VIP terminal of the Beijing Capital International Airport, each accompanied by a single aide. Geithner had first stopped in Hong Kong.
Despite the official silence, a late advance in the yuan in Shanghai to 6.8235 per dollar, the strongest rate since October 2009, fueled talk that change was afoot.
The decision to hold such a high-level encounter suggested that Washington and Beijing are trying to narrow their differences over currency that threaten to overshadow cooperation on the global economy, Iran's nuclear program and other issues. "The two sides exchanged views on US-China economic relations, the global economic situation and issues relating to the upcoming economic track dialogue of the second US-China Strategic and Economic Dialogue, to be held in Beijing in late May," the Treasury statement said.
Chinese Foreign Ministry spokeswoman Jiang Yu declined before the meeting to elaborate on the agenda, saying only that Wang and Geithner would "exchange ideas on US-China relations and other issues of mutual interest".
The Obama administration delayed a report to the US Congress due April 15 in which it had the option of citing Beijing as a currency manipulator, a designation that could lead to a World Trade Organization complaint and possible trade sanctions.
Economists expect Beijing to allow the yuan to rise as early as the second quarter of this year in order to ease strains in its own economy. A stronger yuan would increase the buying power of Chinese consumers, helping to increase domestic consumption and reducing reliance on exports.
"China can go a lot further in internationalizing its economy and promoting world growth by making its currency more flexible," said Pieter Bottelier, an economist and former head of the World Bank's China office.
"It is in the interest of the Chinese to resume its policy of pushing toward a more flexible exchange rate, rather than in the interest of the US".
"If China's currency appreciates very significantly in a short time it would not be a good thing and it would raise costs for US consumers," said Xia Bin, director general of the Financial Research Institute of the Development Reform Council, a body affiliated with the country's Cabinet. Xia advises the government on monetary policy.
"We need to pursue an independent currency regime, and I believe in the long term we will see the exchange rate floating more," Xia said.
While the talks on Thursday were seen as a positive development, analysts were not expecting any significant new agreement to come out of the visit.
Submitted by susan2010 on April 1, 2010 - 6:34am
US officials said Scott Gration would shuttle between meetings with leading government and opposition figures.
On Wednesday, the Sudan People's Liberation Movement (SPLM) said Yassir Arman would not stand because they felt the vote would not be free and fair.
Other opposition groups condemned the SPLM decision, calling it a "betrayal".
The SPLM's decision to withdraw Yassir Arman from the presidential race at first glance seems to seriously damage the poll's credibility. The blow will amplify in force if many or all of the northern opposition candidates pull out of the race too.
But President Omar al-Bashir may not be that disappointed.
The SPLM will contest the legislative elections everywhere except Darfur, which will allow the president's National Congress Party to say it has taken part in multi-party elections.
Mr Arman was one of - perhaps the - greatest threats to President Bashir in the presidential race. That has fuelled speculation, as yet unconfirmed, that some sort of deal was struck between the NCP and the SPLM.
Can elections be held in Darfur?
They were due to meet later to discuss whether to all boycott the vote - the first multi-party presidential election in 24 years.
Both the opposition parties and the SPLM - who serve in a coalition at national level with President Omar al-Bashir - believe the electoral process has been rigged in favour of his National Congress Party.
They say the registration process has been flawed, and their access to state media and rights to hold rallies restricted.
Explaining the withdrawal of his candidacy for the presidency on Wednesday, Mr Arman also said the ongoing conflict and state of emergency in the western region of Darfur made it "impossible to have free and fair elections".
"The people of Darfur in the internally displaced people's camps asked the SPLM not to be involved in the election," he said. "Our response to the people of Darfur's Political Bureau is that we have decided not to run."
The SPLM would, however, contest the 11-13 April parliamentary and municipal elections elsewhere in Sudan, Mr Arman added.
President Bashir has threatened to cancel a promised referendum on independence for the South if the SPLM boycotts the poll.
The US, UK and Norway issued a joint statement saying they were "deeply concerned by reports of continued administrative and logistical challenges, as well as restrictions on political reforms".
But they warned that "irrespective of the outcome of elections", it was essential the January 2011 referendum go ahead as scheduled.
The head of the SPLM, Vice-President Salva Kiir, told the BBC there was no connection between the elections and the referendum.
"Just read the constitution," he said. "You will find that the referendum is something agreed alone and has to be conducted whether there are elections in Sudan or not," he said.
The SPLM joined the unity government in 2005 as part of a peace deal ending a two-decade civil war. Some 1.5 million people died in the conflict between the mainly Muslim North and the South, where most people are Christian or follow traditional beliefs.
