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US-China ties have huge benefits for Americans-Geithner

Published 01/14/2011, 01:26 PM
Updated 01/14/2011, 01:28 PM

WASHINGTON, Jan 14 (Reuters) - U.S. Treasury Secretary Timothy Geithner, discussing the upcoming visit of Chinese President Hu Jintao, said on Friday the U.S.-Chinese relationship has huge economic benefits for Americans.

Geithner said the competitiveness of U.S. companies in China is improving because the value of the Chinese currency is strengthening against the dollar. He said the yuan exchange rate is appreciating in real terms at a pace of about 10 percent per year.

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