TEXT OF STORY
SCOTT JAGOW: Today that U.S. trade delegation led by the Treasury Secretary started talking with Chinese leaders in Beijing. Henry Paulson urged China to come up with “tangible results” on its currency and other economic sticking points with the U.S. Ruth Kirchner reports from Beijing.
RUTH KIRCHNER: If Secretary Paulson wants tangible results from this economic dialogue, Chinese Vice Premier Wu Yi does not want a lecture from the U.S. delegation.
China’s most powerful woman said some Americans failed to understand how Beijing is making headway on economic reform. She also pointed out that China is increasing imports to offset the trade surplus with the U.S.
But China expert David Zweig of Hong Kong University says any concrete steps on Washington’s main concern, the currency, are very unlikely.
DAVID ZWEIG: It would be very difficult for the Chinese leadership to be seen to be giving in to American pressure. They are going to do it in their own time and when it’s appropriate for their economy.
The U.S. delegation will have an audience with President Hu Jintao and Premier Wen Jiabao on Friday.
In Beijing, I’m Ruth Kirchner for Marketplace.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.