Tales from the Trail

McCain sees India, U.S. teaming up against “troubling” China

November 5, 2010

SUMMIT-WASHINGTON

As President Barack Obama begins his visit to India, his erstwhile rival John McCain is voicing hope that Washington and New Delhi will tighten up their military cooperation in the face of China’s “troubling” assertiveness.

Washington Extra – Ducking the issue

October 16, 2010

U.S. Treasury Secretary Timothy Geithner testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on The Treasury Department's Report on International Economic and Exchange Rate Policies on Capitol Hill in Washington September 16, 2010.

We were all primed for the release of the Treasury’s global currency report this afternoon, which would have included a ruling on whether China was a currency manipulator. But a decision was taken to delay the report until after the Group of 20 summit in Seoul in mid-November.

Washington Extra – Nobel committee polishes Diamond’s credentials

October 11, 2010

After irking the Chinese with the award of the Nobel peace prize last week, the Nobel committee set a few feathers flying in Washington today by awarding the economics prize to Peter Diamond, an MIT professor who has also been nominated by President Barack Obama for a spot on the Board of Governors of the Federal Reserve.pdiamond

Loss of U.S. jobs to China becomes powerful election issue

October 8, 2010

In Pennsylvania, the Democratic candidate for the U.S. Senate, Joe Sestak, accuses his Republican foe Pat Toomey of favoring China over hard-working Americans.

Washington Extra – Goldilocks Geithner

September 16, 2010

Not too hot, not too cold, just right.geithner18

U.S. Treasury Secretary Timothy Geithner performed a delicate balancing act on the Hill today. On the one hand, Geithner had to tell an increasingly angry Congress that he was serious about trying to persuade China to revalue its currency, the yuan. On the other, he wanted to head off the kind of unilateral action from Congress that could provoke a trade war, and endanger the administration’s efforts to engage Beijing on a whole slew of issues.

Geithner tells Congress: calling China names doesn’t get you anywhere

September 16, 2010

U.S. lawmakers are mad and want Treasury Secretary Timothy Geithner to step in and call China a name – ”currency manipulator” — which may not sound like much on city streets but can be quite an insult in world financial circles.

Washington Extra – I see your gauntlet, and raise you a gauntlet

September 13, 2010

On Friday, President Barack Obama threw down the gauntlet to Republicans on taxes, effectively daring them to vote against a tax cut for the middle classes, just so that they can give an average of $100,000 in tax cuts to millionaires.

Washington Extra – Trade Protection

August 26, 2010

china_tradeWe travel the Karakoram Highway from China to Pakistan on today’s edition of Washington Extra.  Driving the agenda for Reuters today is news that the United States could be heading for another trade row with China, after it announced plans to toughen rules against what it sees as unfair trade practices. A number of the proposals are likely to irk Beijing and could provoke retaliation.

Washington Extra – Fears of economic stagnation

August 11, 2010

dowFear returned to global financial markets today, with stocks sinking and the dollar rising sharply on renewed worries about an economic slowdown in China and the United States. President Barack Obama met with senior economic adviser Larry Summers and “talked through some scenarios” on what was playing out around the globe, and how to keep the U.S. recovery on track.

Washington Extra

July 23, 2010

The Obama administration admitted today that the economy was facing “strong headwinds” and that government finances were on an unsustainable path. Not a great backdrop as we head into November’s elections, as the White House is only too well aware.