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U.S., China Pledge to Address Currency, Financial Issues

U.S. Treasury Secretary Timothy F. Geithner and Chinese Vice Premier Wang Qishan pledged today to tackle currency, financial services and trade conflicts between the world’s two biggest economies.

At the start of the two-day Strategic and Economic Dialogue, Geithner said China has been making progress “towards a more flexible exchange rate” and weaning its economy off a dependence on exports. He also called for China to overhaul its financial system and said the U.S. will work to improve its fiscal outlook.