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The reason why the US Treasury is even thinking about this dreaded term is because China has effectively kept its currency, the renminbi or yuan, pegged against the US dollar since July 2008, despite having allowed it to appreciate by about 21 per cent against the dollar over the previous three years.
The Crunch one year on: A professional economist as Chancellor of the Exchequer? Sean O'Grady talks to the Liberal Democrats' 'Shadow Chancellor' about how we got into this mess, and how his party would get us out of it
One year ago, the assembled brains of the Fed and Wall Street sealed the fate of one of its oldest banks. In this gripping account of that weekend last September, Stephen Foley counts the cost of high finance's darkest hour
But a new 'clawback' scheme means they can be forfeited if deals later prove unsuccessful
Executive ran multibillion-dollar lender under investigation for accounting fraud
President seeks to end criticism of aide at centre of row over Wall Street bonuses
President apologises for disability gaffe on Jay Leno chat show
If TV talk shows have become a battleground where hosts and newsmakers battle it out, Jay Leno and President Barack Obama didn't get the message.
Last week, it was all smiles and handshakes as Gordon Brown and President Barack Obama put on a show of unity in Washington.
He has committed a few rookie errors and had to deal with a global recession that is only getting worse, but Barack Obama is yet to lose the gloss that won him the election. Rupert Cornwell reports
As G7 finance ministers gather, damning report shows scale of Germany's economic woes
Obama makes good his promise to protect the planet by allowing states to set tough laws on car emissions and planning the appointment of a new climate change envoy
The first sign of friction in the Obama camp as Mrs Clinton demands - and gets - a purge of her critics before accepting Secretary of State role
President-elect Barack Obama has already started to put his team in place – just as well, given the scale of the challenges he will face come January
New president Barack Obama went straight to work today appointing his new government and studying some of the problems he will inherit when he takes office in 10 weeks.