China Get-Out-Of-Jail-Free Card Vexes Geithner

The U.S. Treasury secretary has worked 24/7 for 20 months prodding China to revalue the yuan.

Geithner can forget it after Japan’s intervention.

Any calls for China to boost the yuan will now be met with a blunt retort: Yeah, why don’t you call Tokyo first? Japan’s per-capita income is more than 10 times ours and you’re giving us grief about exchange rates?

Read the rest of this on the money commentary in Bloomberg here.