China Considers Yuan Trading Against Ruble, Won, Official Says

Never try to out negotiate the Chinese.
This administration will not accomplish what the past two failed on by force or a coalition formation.
If you do you might get the surprise of your life.
See what you can do, if anything, and do it, but that is too complicated for USA financial government.

China is considering allowing the yuan to trade against the Russian ruble, South Korean won and Malaysian ringgit to promote its use in cross-border trade, an official at the China Foreign Exchange Trade System said.

Geithner to visit Beijing amid currency dispute

U.S. Treasury Secretary Timothy Geithner will visit Beijing for talks with a Chinese vice premier for economic affairs on Thursday, Geithner's spokesman said, in a sign the two sides are moving toward settling a dispute over China's currency controls.

As a result, Treasury Secretary heads to China with hat in hand.

Source: bloomberg.com
Source: finance.yahoo.com