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| US's Paulson says working hard on China yuan rise |
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| 2008-02-24 | |
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WASHINGTON, Feb 7 (Reuters) - U.S. Treasury Secretary Henry Paulson on Thursday said he was working hard to persuade China to accelerate the rise in value of its yuan currency, but said U.S. legislation aimed at forcing Beijing to do so would be counterproductive. "We are all focused on this," Paulson said in testimony before the U.S. House Ways and Means Committee. " We all realize that we would like the Chinese to move quicker in appreciating their currency and we've been working hard to that end." Paulson said a currency bill would be "harmful", especially at a time when the U.S. economy is particularly dependent upon exports |
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