China, U.S. Spar On Trade ; Treasury Secretary Pushes Beijing for Reforms

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BEIJING -- U.S. Treasury Secretary Henry Paulson pushed China on Thursday to ease currency controls, appealing for help in shoring up American support for free trade. But a top Beijing official said change already was coming, and complained that Americans fail to understand China.

The exchanges at the start of a two-day gathering billed as a long-range "strategic economic dialogue" highlighted the challenge facing Paulson if he wants to mollify American business groups and Democrats in Congress who are demanding changes to rein in China's soaring trade surpluses.

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China, U.S. Spar On Trade ; Treasury Secretary Pushes Beijing for Reforms

Paulson and others in his high-profile delegation, including Fed Chairman Ben Bernanke, argued that a more flexible currency, more open markets and ...

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