China will strengthen Yuan, says Geithner

China will strengthen Yuan, says GeithnerTimothy F. Geithner, the US Treasury Secretary has said that he is confident that the Chinese government will soon decide to strengthen the Yuan, its national currency. It will be doing so because it thinks that a stronger Yuan is better for its future.

He further said that the Asian nation thinks that the US wants it to make its move quickly, so that the US is able to make its next move.

In an interview given to Bloomberg, Geithner said that China is forced to make this decision since its economy is driven by trade, mostly exports.

His views are in line with what President Barack Obama had said earlier about the Yuan. Geithner made these comments after there was a one-hour long discussion between Obama and China's President, Hu Jintao.

It is said that Obama has urged the Asian giant to help in balancing the world economy.

Experts believe that Hu's visit to the US is a being done in an effort to change the perception that it is a currency-manipulator. After the financial crisis, the relationship between the two nations has been improving.