Is China a currency "manipulator"?

Greece and Germany are in the news this morning, but it won't be long before attention turns back to the growing currency spat between the U.S. and China.

The Treasury Department must decide whether or not to designate China as a "currency manipulator" before next month's report to Congress. It's hard to imagine that, given the still-fragile state of the global economy, they'd do such a thing, but you never know.