Sunday May 27, 2012

JAPAN NEWS AND DISCUSSION

Geithner to travel to China and Japan next week

Politics Jan. 06, 2012 - 07:00AM JST ( 8 )

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8 Comments

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globalwatcherJan. 06, 2012 - 04:16AM JST

He used to work for the IMF understanding macro economy very well. It is interesting to lhear whay he needs to say.He is a solid rock!
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Patrick HattmanJan. 06, 2012 - 09:02AM JST

Geithner studied Mandarin and Japanese at university and later worked for a few years at the U.S. Embassy Tokyo. Perhaps his comfort zone in dealing with the Chinese and Japanese is sufficient for productive meetings.

The trip follows the Obama administration decision to not name China a currency manipulator. That upset U.S. manufacturing groups, who contend China is undervaluing its currency for trade advantages.

Japan is a currency manipulator and has intervened numerous times in recent years when the yen strengthened to a point that the authorities felt they had to make moves for the all-important export industry. Japan is a junior partnerin all aspects in the bilateral relationship with the U.S.

China, on the other hand, is the surging power in Asia. Perhaps the U.S. could negotiate better with China on a variety of issues if it didn't always have one hand out full of Treasurys for China to purchase.

It's one thing for the U.S. to become hugely indebted to a country in Japan that we've had a large amount of influence over, if not outright control to some extent, for over a half century.

It's an entirely different ball game with China, though.
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globalwatcherJan. 06, 2012 - 10:24AM JST

Geithner studied Mandarin and Japanese at university

Patrick, do you have any information if he speaks Japanese? When was he there in Tokyo?
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grammefridayJan. 06, 2012 - 01:44PM JST

I think he also worked for Goldman and Sachs so it is possible he is merely on a sales mission for their interests
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oberstJan. 06, 2012 - 08:02PM JST

Mr. G should not skip S.Korea. esp. with the uncertainty in N. Korea. China is one of the major trading partner with S. Korea and there's no reason to give S.Korea a perceived " slight ", afterall face is important for asians.
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globalwatcherJan. 07, 2012 - 01:07AM JST

JX Nippon Oil & Energy, Japanese biggest refiner, said on Thursday it was talking to Saudi Arabia and other countries to find alternative supplies of crude oil. One person close to the government said Koichiro Gemba,Japanese foreign minister, was using a visit to the Middle East to pave the way to get more oil from Saudi.

Welcome on board. I am glad to learn, at least, Japan is preparing for the worst.
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SerranoJan. 07, 2012 - 11:39AM JST

In 2009 following a speech at Peking University during a question-and-answer session, a student asked Geithner whether Chinese investments in U.S. Treasury debt were safe. When he replied that they were very safe, that drew laughter from the audience.
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noriyosan73Jan. 07, 2012 - 12:19PM JST

Do not be surprised if Geihtner gets the vertical "no" in his discussions. He will not be in his present position in 2013. Watch for his resignation after the November election.