currency war

Timothy Geithner, the US treasury secretary, made headlines Wednesday after he warned of the potential for a currency war – or, to be more precise, a “competitive non-appreciation” – if China did not allow the renminbi to appreciate more freely.

What was less noticed in his address was some equally tough talk for Europe, where he seems to see a danger of continent-wide austerity measures stifling the nascent global economic rebound. Read more >>