Latest round of US-China trade talks begins
1 August 2007
US Treasury Secretary Henry Paulson had his first meetings with Chinese leaders on Tuesday as part of the latest meeting in the twice-yearly US-China strategic economic dialogue. Currency appreciation and ways to stimulate domestic consumption were on the agenda as Paulson met with Vice Premier Wu Yi and central bank governor Zhou Xiaochuan, AFP reported. Paulson began his visit with a trip to the vast and poor northwestern province of Qinghai. Wu, pointing to the contrast between China's wealthy and poverty-stricken regions, asked Paulson, "Who could China threaten?" Paulson, who is under pressure from the US Congress to secure commitments from Beijing on currency reform, told the Financial Times that issues such as capital market reform were just as important as currency policy.