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Showing posts from February 13, 2007

On Sino-American relationship

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Business Times - 13 Feb 2007
Will WTO's China case take the heat off Bush?
WTO action against China could help ease pressure to take a tougher approach against China
By LEON HADAR WASHINGTON CORRESPONDENT
WHEN US Treasury Secretary Henry Paulson address-ed law-makers on the Bush Administration's global economic policies late last month, he couldn't fail to detect a growing scepticism over US policies towards China and rising demands in Congress for imposing punitive economic sanctions on Beijing in order to force officials there to change China's fixed exchange rates which that critics blame for soaring US trade deficits.
During a hearing at the Senate Banking Committee on Jan 31, both Democratic and Republican senators criticised the Bush administration for not designating China guilty of currency manipulation in its latest report on the global foreign exchange market.
Mr Paulson, who headed a delegation to China last December, responded by defending the Bush administration…