Paulson says China needs broader reforms
Posted by ecoshift on July 30, 2007
FT.com – Paulson says China needs broader reforms
By Richard McGregor in Beijing
Published: July 30 2007 17:55
Currency policy is just one part of broader economic reforms that Beijing must undertake to maintain growth and competitiveness, Hank Paulson, US Treasury secretary, said on Monday ahead of talks in the Chinese capital.
Mr Paulson said the currency had become a “proxy for reform” but that it had to be addressed alongside other structural problems in China – such as underdeveloped open capital markets.