"[Loevinger] and [Dollar] are both uniquely qualified to serve in these roles because of their deep expertise and extended experience in handling a broad array of U.S.-China economic affairs," Geithner said in the release. "[Loevinger's] experience in areas such as financial regulation and macroeconomic policies, among others, and [Dollar's] world-renowned expertise in development economics and distinguished career at the World Bank will help strengthen the U.S.-China partnership in an economically challenging time."
Loevinger will work at the Treasury Department in Washington, and Dollar will be based in China.
Dollar currently serves as the country director for China and Mongolia at the World Bank, where he helped launch a quarterly report that has become "one of the most respected sources of information and analysis on the Chinese economy," according to the Treasury release. Dollar also urged the World Bank to fund environmental initiatives such as energy efficiency, carbon reduction, clean water and reforestation efforts.
After graduating summa cum laude from the College, where he studied Chinese and history, Dollar earned a doctorate in economics from New York University, the release said. He then served as an economics professor at the University of California at Los Angeles, and in 1986, taught at the Chinese Academy of Social Science Graduate School in Beijing on a program sponsored by the Ford Foundation, the release said.
Loevinger is the Treasury's first permanent representative to China as the department's minister-counselor for financial affairs in the country, according to the release. He has worked with Chinese officials on a variety of issues, including financial regulation and currency exchange rate policy. Loevinger was a leader in helping establish the U.S.-China Strategic and Economic Dialogue and has pushed to open up Chinese markets for U.S. financial services firms, according to the release. Prior to holding this position, Loevinger served as the Treasury deputy assistant secretary for Africa, the Middle East and Asia.
Loevinger majored in government and minored in economics at the College, according to Treasury spokesperson Natalie Wyeth. He received a masters in public policy from the Kennedy School of Government at Harvard University in 1988. Loevinger joined the Treasury in 1991 as a staff economist and has represented the United States in forums including the Asia-Pacific Economic Cooperation, the release states. From 1995 to 1999, Loevinger worked as an economist at the International Monetary Fund, after which he returned to the Treasury.
Geithner made the announcement during his two-day trip to China, during which he is meeting with officials including Chinese President Hu Jintao, Premier Wen Jiabao and Vice Premier Wang Qishan, his counterpart in the US-China Strategic and Economic Dialogue, to discuss U.S.-Chinese trade and possible steps to promote economic recovery, among other topics.
Loevinger and Dollar could not be reached for comment by press time as they both currently work in Beijing, according to a representative from the Treasury Department.
