US Presses China on Currency The U.S. and China launched formal economic talks Wednesday, with U.S. Treasury Secretary Jacob Lew arguing that exchange rate liberalization and other proposed measures were in Chinas interest and Chinese Vice Premier Wang Yang calling for balance. If we move too fast, we will be tripped by the demons of details, Mr. Wang said in an afternoon session of the annual Strategic & Economic Dialogue in Beijing. But if we move too slow, reform will be affected. The U.S. is stepping up the pressure, on currency and other issues, Mr. Wang said, but China is seeking to find balance. Mr. Lew outlined a list of changes the U.S. is seeking, including a market-determined exchange rate, financial sector reform and intellectual property protection. He framed these changes as part of Beijings reform agenda and thus in Chinas interest. Dow Jones Tomorrows News Today
Posted on: Wed, 09 Jul 2014 22:32:03 +0000
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