Macroblog points to an FT report that notes Dr Henry Kissinger has been acting as an emissary to China on currency issues:

Henry Kissinger, former US secretary of state, is one of a number of unofficial envoys who have impressed upon China the urgent need for action on the 10 per cent target, and on the seriousness of the threat from Congress, people with familiar with the administration’s efforts said.

As well as the minimum 10 per cent target revaluation, Dr Kissinger was briefed by the Treasury on the need for other measures, such as a shift to a currency band against the dollar or a basket against a number of currencies to replace the peg…

Perhaps it wasn’t such a bad idea to have Kissinger at the recent CLSA Forum.