Rift between US, China over valuation of currency continues

Over the weekend, US Treasury Secretary Tim Geithner said the Obama Administration would delay a decision on whether to declare China a currency manipulator - a term that carries with it consequences under trade laws. The semiannual exchange rate report from the Treasury Department was due on April 15th, but Geithner said upcoming high level meetings, including a G-20 meeting and a US visit by Chinese President Hu Jintao, would be a better way to address the issue. China's devaluation of its currency has been contentious for years. Critics say it gives the country an unfair advantage on world markets and threatens US jobs. China calls it an internal matter.

To learn more about this issue, we're joined by John Ciorciari, he served as a US Treasury official from 2004-2007 and is now an assistant professor at the University of Michigan with a focus on Asia.