China and the US continued their delicate diplomatic dance over the weekend about a possible revaluation of the Chinese currency, with both sides maintaining a cordial front at an Asian economic forum.
Senior officials from both countries held meetings at Bo'ao Forum for Asia on the southern Chinese island of Hainan. Billed as China's “Davos”, the annual forum came on the heels of Thursday's trip to Beijing by Tim Geithner, US Treasury secretary. The unscheduled visit fuelled speculation that China would soon change its currency policy.
Neither government commented on the substance of Mr Geithner's discussions on April 8 with Wang Qishan, the vice-premier in charge of economic affairs. But the meeting was widely interpreted as a sign that they were backing away from a debilitating fight over the Chinese currency.