Word: beijingers
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These days, U.S. officials routinely acknowledge that the Washington-Beijing relationship is the world's most important. Combined, the U.S. and Chinese economies accounted for more than half of global growth over the past four years, and how these nations interact over everything from Iran to North Korea will do...
Hank Paulson is trying to rectify that. Since he took over at the Treasury six months ago, the former Goldman Sachs CEO has made China the centerpiece of what will be his two-year run as the Administration's top economic policymaker. The December meeting in Beijing was the first...
Paulson thus views his job as something like cajoler-in-chief. He says he has sympathy for Beijing's argument that it must move cautiously. But he also wants the Chinese to pick up the pace, because it's in their own interest to do so. Unless they continue to...
Besides, Paulson says, the world may run out of patience if Beijing doesn't get a grip on currency and trade issues. The threat of protectionism in the U.S. is very real, he warns: "It's one of the major risks we face. If China were a relatively small economy...
Will China take Paulson's message to heart? The yuan has risen slightly since last month's summit in Beijing, but it's still not clear that Hu and his fellow leaders have any real sense of urgency on trade and currency issues. Lardy, the Institute for International Economics fellow...