Chinese convinced Paulson of their side and Hank Paulson, the US Treasury secretary said the he was extremely happy
Marla Scott
Sep. 22, 2006

China again showed super diplomacy in tackling Wall Street pro Hank Paulson, the new US Treasury secretary. As was published yesterday in India Daily, the Chinese authorities made Paulson understand their side and made a detailed plan with him to tackle the currency problem.

Hank Paulson, the new US Treasury secretary is now convinced that the C hinese authorities will work closely with US in making the currency flexible and eventually increase the value of reminbi.

What Paulson did not get is what US wanted - a firm commitment and time table for the chinese currency to increase in value so that the trade deficit can be tackled.

According to some think tanks, Paulson will soon realize just like his predecessor John Snow that dealing with China is not easy. They say onething to convince people and do something else in reality to satisfy their own needs.

Chinese convinced Paulson of their side and Hank Paulson, the US Treasury secretary said the he was extremely happy
Marla Scott
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