Geithner in Beijing, faces uphill struggle on Iran
World BusinessJan 11, 2012
BEIJING (AP) ― China and the United States have pledged during a visit by Treasury Secretary Timothy Geithner to cooperate on boosting the global economic recovery, but Chinese backing for U.S. sanctions on Iran’s oil industry appeared unlikely.China buys almost one-third of Iran’s oil exports and has rejected the U.S. sanctions as a tool to rein in Tehran’s nuclear program. That sets Washington up for a public setback if the government of the world’s second-largest economy refuses to cooperate.