Paulson: China must speed money reform |
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Published
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Wed, 31 Jan 2007 16:22
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WASHINGTON (AFX) - Treasury Secretary Henry Paulson told Congress on Wednesday that the Bush administration was doing all it could to get China to move more quickly on currency reform in the face of a soaring U.S. trade deficit.'China does not yet have the currency policy that we want it to have and that it needs,' Paulson said in his prepared remarks to the Senate Banking Committee. 'The international community will run out of patience with China unless the pace of its reform accelerates.'Paulson's comments comes as the U.S. trade deficit with China has hit an all-time high.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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China announces 'crucial' economic reforms - state media 