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Treasury secretary heading to Beijing

Treasury Secretary Timothy Geithner
Treasury Secretary Timothy Geithner | License Photo

WASHINGTON, May 29 (UPI) -- U.S. Treasury Secretary Timothy Geithner's upcoming trip to China is the Obama administration's first one-on-one economic meeting with Beijing.

Geithner is expected to be conciliatory, staying away from a direct confrontation on China's valuation of its currency, The Washington Post reported. President Obama, as a candidate, advocated a tough approach to China's alleged boosting of its exports by undervaluing the reminbi.

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A Treasury official told the Post the secretary is likely to bring up valuation only as part of a larger discussion of structural changes he believes China should make.

Geithner is scheduled to arrive Sunday morning in Beijing and to spend three days in the city.

The visit is expected to focus on the global economic slump and how China can help recovery with its own spending on infrastructure and on steps to increase demand in its own population.

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