At leats thast is what he implied during his visit to Brazil today. Mr. Geithner attributed Brazil's recent trade problems to countries "that understand the value of having an undervalued currency", seen as clear reference to China's yuan.
Seeks to work together against China
He said: "We have a common interest with Brazil and other emerging economies that growth is balanced,"
"Brazil and other emerging markets cannot address these challenges by their own policy choices alone," "It's now more important than ever that we work together."
New President Dilma Rousseff has identified China's undervalued yuan as one of the biggest threats to Brazil's economic boom due to a flood of cheap Chinese imports.
Ms. Rousseff is due to visit Beijing in April where she will raise the issue of the undervalued yuan, according to officials.
Geithner also said that countries such as Brazil that face an "out-sized burden" due to their strong currencies "may need to adopt carefully designed macroprudential measures"
Brazilian press comments not so flattering
However, Brazilian press wrote that Mr.Geithner did not commnet on the ultra-low interest rate policy and cheap money and stimulus that the U.S. has. That is clearly another reason for monety to seek other countries.
Monday, February 7, 2011
Geithner: Brazilian Real Overvalued Because Of China, Fails To Mention Low Rates In the U.S As Cause
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2011
(510)
-
▼
February
(32)
- The Last "Great" U.S. GDP Is Now Revised Down From...
- Profitting From Oil Rising Further or Dropping: Vo...
- VISA: Your Current Debt Will Take 109 Years to Be ...
- Gold Analysis Now: Sell or Go Short; Gold in Tradi...
- BAC Shares Take Beating: New $20B Writedown, Now O...
- Tensions in Mideast: Using GLD and Yamana Gold, an...
- Home Prices in U.S. Drop To 2009's Lows, 6 Straigh...
- Spain's Banks Have 100B Euros in Problem Assets
- Roubini: G20 in Disarray, There is No Global Leade...
- G20 Currency Wars are Back: Brazil to Veto Propose...
- Mega Stock Exchanges: Brazil and China's Stock Exc...
- EU: Portugal Now Seen as Requiring a Bailout By April
- Food Prices Skyrocket And Why and How You Should I...
- Canadian's Debt Soars, Hits 150% of Income, Now Ma...
- Gold Soars as China Buys Record Gold: To Overtake ...
- Geithner: U.S. Needs To Massively Cut Corporate Ta...
- Apple's Arrogance Reaches New Levels: Subscription...
- Gold is Lifting Off This Morning
- U.K.'s Inflation Jumps to 4.0%: Twice the Target
- Forget Bernanke: MIT Says Online Inflation Jumps i...
- U.S. Interests Paid on Its Debt to Triple, to $554B
- China Invades Africa; 10X Investments in 10 Years,...
- Egypt Volatility: Opportunity in Oil ETFs; The Top...
- Oil: Petrobras Hits New Record Gasoline Production
- Irish Banks To Require Yet Another 50B Euros in Ne...
- Natural Gas: Huge Drop in Storage But Contango Rul...
- The Silly Latest Unemployment Figures: Initial Cla...
- The U.S. Exports Food and Oil Inflation: Inflation...
- Inflation Rises Again, China Raises Interest Rates...
- Geithner: Brazilian Real Overvalued Because Of Chi...
- KRY: Crystallex's Sad Story Finally Ends. Caput
- Riding the Egyptian Stock Roller Coaster: EGPT ETF...
-
▼
February
(32)
No comments:
Post a Comment