U.S. Chamber chief heading to China next week

Geithner and State Department Secretary Hillary Clinton will head over to China for talks on several issues later this month. 

Asked about the value of China's currency, another contentious issue, Donohue said he believed the yuan exchange rate "should be adjusted" but that moderate change would have little impact on China's huge trade surplus.

Jobs and economic vitality will be the focus of those talks later this month. U.S. Ambassador to Beijing Jon Huntsman told reporters today. 

"China is going through an historic economic transformation as they endeavor to create social safety nets that will allow them to move from an export-based system to a more consumer-based system," Huntsman said today.