Geithner keeps tabs on GM during China trip

reasury Secretary Timothy Geithner isn't leaving behind the troubles facing the U.S. auto industry, as he starts two days of talks with Chinese officials in Beijing.
 
He spent much of his flight to China on the phone -- staying in touch with Steven Rattner, head of the administration's auto task force. Also providing updates on the talks with GM -- which could file for bankruptcy on June 1 -- is Obama economic aide Lawrence Summers.
 
Despite the continued auto industry turmoil, Geithner told reporters that the U.S. economy is beginning to stabilize. He says he's seeing "more durable stability in the economy," and a financial system that is "in substantially better shape."
 
But he says much more needs to be done in the U.S. and other major economies.
 
Ahead of his talks with Chinese leaders, Geithner is playing-down some long-standing areas of disagreement, such as China's undervalued currency.
From: AP

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