Reply #35: World is impatient for reform, Paulson tells China [View All]

[Ghost Dog]

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20061214:MTFH87200_2006-12-14_11-03-49_BJB000101&type=comktNews&rpc=44

BEIJING, Dec 14 (Reuters) - China must step up the pace of economic reforms because the rest of the world is growing impatient for it to do so, U.S. Treasury Secretary Henry Paulson said on Thursday.

"They're so big and such an economic powerhouse that the rest of the world is going to be impatient, particularly the U.S., and so they need to accelerate the reform," Paulson told a small group of reporters who travelled with him to Beijing for the inaugural session of a "strategic economic dialogue" between the two countries.

Paulson was speaking after the first day of talks that are scheduled to wrap up on Friday. He described them as "productive and informative interchanges".

Paulson said he agreed with a comment by Chinese Vice-Premier Wu Yi that America needed to better understand China's drive to reform its economy.

"But having said that, there's certain things that there's plenty of understanding on, and they have just got to move quicker," he said. "There's no lack of understanding about currency flexibility or intellectual property and those kinds of issues."

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