US financial experts demand China to strengthen the Renminbi in line with the upcoming G-20 conference that responds to the global ‘currency crisis’.

US Treasury secretary, Timothy Geithner, recommends for the upcoming G-20 meeting of the financial ministers of the world’s most powerful economic nations, that the officials should try to limit trade gaps and cap domestic surpluses that cause the disturbance of the global economic equilibrium.

Geithner states: “G20 countries with persistent surpluses should undertake structural, fiscal and exchange rate policies to boost domestic sources of growth and support global demand.”

By implementing such policies, export nations like China would be forced to strengthen its import rates and its currency. That would further limit the country from using their exchange rate in order to raise profit at the cost of their weaker trading allies.

Geithner added: “Emerging market countries with significantly undervalued currencies and adequate precautionary reserves need to allow their exchange rates to adjust fully over time to levels consistent with economic fundamentals.”

Chinese officials defend the economic role of China by stating that the nation tries to strengthen domestic consumption growth and make its economy more diverse.