China yuan reforms “agonizingly slow”: Zoellick – Doug Palmer

From Reuters (link)

China’s currency reforms have been “agonizingly slow,” but the United States should not blame others for its own problems, Deputy Secretary of State Robert Zoellick said on Monday.

“China seems to be saying the right things. … The head of the People’s Bank talks about this in a way that would suggest they’re going to move in the right direction, but the process of change seems agonizingly slow,” Zoellick told the Institute for International Economics.

The former top U.S. trade official spoke to the group about expectations for the White House meeting on Thursday between President Bush and Chinese President Hu Jintao.

Also see Reuters story “U.S. not expecting change in China currency policy” (link)

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