U.S. Treasury Secretary Vows to Press for Change in China

From the International Herald Tribune:

Paulson, meanwhile, will be leading a delegation of Cabinet members to meet with their Chinese counterparts in Annapolis, Maryland, next week at what could be the last round of high-level economic talks under the so-called strategic economic dialogue started in 2006.

U.S. officials say that while a number of specific trade issues have been resolved over the past two years, they are increasingly concerned that China is backtracking by using regulations, standards and other means to favor Chinese industry and shut out foreign competition.

Paulson said Tuesday that he would press for a more open Chinese economy and convey “the concerns of American companies that China’s investment regulations are opaque and seem in many ways to be designed to favor China’s ‘national champions.”‘

Xinhua has a slightly different take on the story with their report headlined “Paulson: economic relations with China growing in positive direction.” See also CDT’s previous post: “Paulson Pledges Robust Engagement With China.”