Greenspan to Testify on China on Thursday

Tuesday, June 21, 2005

The Federal Reserve has added a new appearance by chairman Alan Greenspan on short notice. The chairman will testify to the Committee on Finance of the US Senate on Thursday, 10 AM local time. US Treasury Secretary John Snow will testify as well.
Expect some different views of the two.
While Snow has repeatedly demanded that China revalues the Yuan, see "US to China: revalue or... - or what?", Greenspan has said that a revaluation would not help to balance the US trade deficit as producers would move to other soft currency countries in Asia.

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