U.S. ‘impatient’ with China policy

Americans are an “impatient” people, U.S. Treasury secretary Henry Paulson, said, pushing for speedy changes in China’s economic policy.

Americans are an “impatient” people, U.S. Treasury secretary Henry Paulson, said , pushing for speedy changes in China’s economic policy.
But China’s vice premier Wu Yi, who met with Mr. Paulson over the last two days as part of the U.S.-China Strategic Economic Dialogue in Washington, warned against premature confrontations, according to published reports.
“We should not easily blame the other side for our own domestic problem, she said, according to the Associated Press.
“Confrontation does no good at all to problem-solving.”
Mr. Paulson is facing mounting pressure from congressional leaders, including House Speaker Nancy Pelosi, over China’s economic policies.
Lawmakers are angered that China has deliberately kept the yuan weak against the dollar.
Last week, the Chinese allowed their currency to fluctuate at a 0.5% daily range against the dollar, up from a trading rate of .3%
“The American people don’t believe trade with China is benefiting both sides equally,” Paulson said in an interview with Bloomberg News after the talks ended today.