Timothy geithner

China will not bow to foreign demand for faster gains in the yuan and will stick to its gradualist approach in currency reform, senior officials said on Friday, indicating Chinese President Hu Jintao may push back if President Barack Obama presses him on the issue next week.

China must step up efforts to boost imports and push developed nations to allow more high-tech goods to be exported to the country, an assistant commerce minister said on Friday.

A U.S. military presence in the Pacific is essential to restrain Chinese assertiveness, Washington's defense chief said on Friday, describing China's technology advances as a challenge to U.S. forces in the region.

U.S. legislation pressing for a rise in the yuan currency looms as less of a threat for China on the eve of President Hu Jintao's visit to Washington, now that Republicans control one house of Congress.

State-owned Bank of China Ltd's move to offer limited deposit services in the renminbi to U.S. customers represents a tiny step in what will be a long journey for the Chinese unit to become a widely-traded international currency.

President Hu Jintao of China is coming to America next week, to meet with President Barack Obama and discuss relations between the world’s two largest economies.

The United States wants a real, demonstrative commitment from China that it is serious about shifting away from export-led economic growth, a U.S. official told Reuters on Tuesday ahead of next week's state visit by China's Hu Jintao.

The United States and its leaders are stuck in their own Catch 22. They need the economy to improve in order to generate jobs, but the economy can only improve if people have jobs. They need the economy to recover in order to improve our deficit situation, but if the economy really recovers long term interest rates will increase, further depressing the housing market and increasing the interest expense burden for the US.

With American businesses holding nearly $2 trillion on their books, President Barack Obama said on Wednesday that a meeting with corporate executives of 20 of the largest U.S. companies will help elicit a variety of ideas to grow the economy and boost jobs amid an anemic recovery.

While negotiators for both political parties worked behind the scenes to hammer out a deal on extending the Bush-era tax cuts and, possibly, unemployment insurance, House Democrats pushed through a measure that would extend the tax cuts for individuals making less than $200,000 and married couples making less than $250,000.

The American people did not vote for political gridlock in Washington, according to President Barack Obama who today met with Congressional leaders from both parties to discuss what they consider the main components of the national agenda.

The U.S. government may take a loss on its $49.9 billion investment in the company if the share price remains at its $33.

A major question emerging here in Seoul on the final day of the G-20 Summit, as world leaders personally powwow on global dilemmas, is this: Can the U.S. and China play nice?

U.S. President Barack Obama said the G20 economies have been successful in putting the world economy back on the path of recovery, but admitted that the progress was not fast enough as expected, especially in creating more jobs.

Moody's Investor Service upgraded China's 3 big policy banks and Chinese government's bond rating to Aa3 from A1.

G20 leaders say they want nations to coordinate economic policy, but even the host country is looking out for number one.

Angel Gurria, Secretary- General of the Organization for Economic Cooperation and Development, an organization consulted by the nations of the world, including most of the nations of the G-20, put the very complex matter of what the G-20 is attempting to do at its summit in Seoul this week, in simple and precise terms.

China is not too pleased with America's plan to inject more capital into its economy in the form of a second round of quantitative easing.

Behind the scenes, China and the U.S., two major combatants, may already have already struck an agreement, said Douglas Borthwick, head trader of Connecticut-based Faros Trading.