Treasury Secretary Geithner Vows US Won’t Devalue Dollar
October 19th, 2010 - 10:30 pm ICT by Angela Kaye MasonOct 19 (THAINDIAN NEWS) A promise was made on Monday from Treasury Secretary Timothy Geithner that the United States will not devalue the dollar for advantage at exporting. he went on to explain that no country can weaken their currency and gain any health for the economy.
He said to the Silicone Valley business officials, “It is not going to happen in this country,” after tensions had risen over the Chinese and US values of currency. These values are expected to be the main focus of the meeting which is being held this weekend between twenty wealthy nations in South Korea.
“It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive,” Geithner emphasized. “It is not a viable, feasible strategy and we will not engage in it.”
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Tags: business officials, currency, economy, Health Science, prosperity, silicone valley, south korea, states of america, tensions, timothy geithner, treasury secretary, united states of america, valley business, wealthy nations