The Washington Times
  • Subscribe
  • Times News Services
  • RSS
  • Mobile Headlines
  • e-edition
  • E-MAIL ALERTS
  • REGISTER
  • LOG IN
  • E-MAIL ALERTS
  • WELCOME
  • Your Profile
  • Log Out
  • Front Page Image
  • Classifieds
  • Autos
  • Real Estate
  • Jobs
  • Special Sections
  • Customer Service
  • Home
  • News
  • Opinion
  • Sports
    • NFL
    • NBA/WNBA
    • MLB
    • NHL
    • Tennis
    • Golf
    • Motorsports
    • Soccer
    • NCAA
    • Olympics
    • Outdoors
    • Other
  • Culture
    • Home & Living
    • Family & Kids
    • Fashion
    • Food
    • Travel
    • Health
    • Washington Visitors
    • Books
    • Military History
    • Life
    • Auto
    • TV Listings
    • Movie Listings
    • Death Notices
    • Entertainment
  • Themes
  • Communities
  • Marketplace
    • Autos
    • Jobs
    • Real Estate
    • Classifieds
    • Shopping
    • Dining Out
    • Education
    • TWT Store
  • Videos
    • Two Guys
    • Birnbaum on Washington
    • Liz Glover
    • Amanda Carpenter
    • Morning Briefing
    • Documentaries
    • Joe Giganti
    • Video Game Minute
  • Podcasts
    • About Headlines
    • Audio and Radio
    • America's Morning News
  • World

    Suicide attack kills 10 at Pakistan checkpoint

  • Sports

    Defensemen carry offense in Caps' win

  • Commentary

    Pelosi's new payroll tax

  • National

    Pastor gets 175-year sentence for sex crimes

  • National

    Moon strikes reveal significant water

  • Business

    September trade gap widened 18.2%

  • National

    Five 9/11 suspects to be tried in NYC

Sunday, March 4, 2007

Paulson doesn't see China as enemy

Rate this story

Average 0.00
after 0 votes
Login or register to rate this story

  • Font Size -+
  • Print
  • Email
  • Comment
  • Tweet this!
  • Share
  • Article
  • Comments ()
  • Click-2-Listen
  • Videos

More Stories

  • Suicide attack kills 10 at Pakistan checkpoint
  • Review: Palin book repeats familiar claims
  • Moon strikes reveal significant water
  • Jefferson sentenced to 13 years in freezer cash case

By

ASSOCIATED PRESS

Treasury Secretary Henry M. Paulson Jr. says the economy is healthy, inflation seems under control and the U.S. should not perceive China as an economic enemy.

Mr. Paulson, who this week makes his third visit to China as Treasury secretary, said in a television interview broadcast it is essential that both countries have strong economic ties. The former head of the investment company Goldman Sachs has said China is moving too slowly in overhauling its currency system and cracking down on copyright piracy. U.S. businesses blame these factors for the soaring U.S. trade deficit with China.

"I would say that our relationship with China is multifaceted, and it's a very important relationship for the U.S. And I don't believe we need to make China an enemy," Mr. Paulson said.

Democrats in Congress have criticized the Bush administration for doing too little to protect U.S. workers from unfair foreign trade practices. Mr. Paulson thinks protectionist barriers in this country would hurt U.S. consumers and make the United States less competitive.

"[China's] whole economy is developing; their capital markets are not nearly as developed as their manufacturing economy. They're not reflective of the Chinese economy overall. They're largely cut off from the global capital markets," he said.

"But as they reform those capital markets and as they open them up to competition, this will make it possible for them to have a currency that trades in a competitive marketplace. This will help their economy develop in a way [that] it'll be good for them and good for us, because there will be a bigger market for our exports," Mr. Paulson said.

After a week in which the Dow Jones Industrial Average posted its worst weekly performance in more than four years, Mr. Paulson said yesterday that he felt good about the economy and discounted the chance of an economic downtown.

"Markets never move in any one direction forever in a straight line. And so I look at it and put it in perspective and say, over the last year, the Dow's up almost 11 percent, [the Standard & Poor's 500] up 9 percent, and I'll take it," Mr. Paulson said.

The Dow dropped 416 points Tuesday after big declines in China and other countries. The Dow fell 533 points for the week, rattling investor confidence about the state of the U.S. economy.

12Next »

Post a comment

There are comments on this article, submit your opinion!

Commenting is disabled for this entry.
If you feel there is still something worth mentioning about this entry please contact the author or the site admin.

Ask a Question

You Report

Do you have another point of view, photos, audio, video or more information about a story?

Top Stories

Most Read

  1. Bush warns of threats to freedom, economic growth
  2. KELLNER: New Apple mouse really is 'Magic'
  3. Houston sheriffs round up thousands of illegals
  4. EXCLUSIVE: Iran advocacy group said to skirt lobby rules
  5. EXCLUSIVE: Fort Hood suspect contacted Muslim extremists
More Top Stories »
  1. Tax penalties and prison
  2. Airport rules changed after Ron Paul aide detained
  3. Former clinic director: Church chilly to my pro-life turn
  4. EDITORIAL: End Clinton-era military base gun ban
  5. PRUDEN: On vacation with Mr. Dithers

Most Shared

  1. Bush warns of threats to freedom, economic growth
  2. Former clinic director: Church chilly to my pro-life turn
  3. Immigration bill is promoted for 2010
  4. PRUDEN: On vacation with Mr. Dithers
  5. KELLNER: New Apple mouse really is 'Magic'
More Top Stories »
  1. EDITORIAL: End Clinton-era military base gun ban
  2. Reluctant White House welcome
  3. Jefferson given 13 years for corruption
  4. EXCLUSIVE: Iran advocacy group said to skirt lobby rules
  5. Pelosi's new payroll tax

Most Commented

  1. Bush warns of threats to freedom, economic growth
  2. Houston sheriffs round up thousands of illegals
  3. Immigration bill is promoted for 2010
  4. EXCLUSIVE: Iran advocacy group said to skirt lobby rules
  5. Former clinic director: Church chilly to my pro-life turn
More Top Stories »
  1. Bush warns of too much government
  2. PRUDEN: On vacation with Mr. Dithers
  3. EDITORIAL: Running away from terrorism
  4. ACORN sues government over funding
  5. Jefferson given 13 years for corruption

Listen to Washington Times Radio

  • America's Morning News

    with John McCaslin and Melanie Morgan

Blogs & Columns

  • POTUS Notes

    Anita Dunn: MSNBC 'different' from Fox News

  • The Back Story

    12 arrested at Pelosi's office

  • Belief Blog

    New Vatican constitution released

  • Out of Context

    Foods that might kill libido

  • Technology

    Facebook wins round against phishing spammer

  • On the Fly

    United lifts some 'award' blocking

  • Redskins 360

    Smith, Betts, Heyer should play

  • Tara's Two Cents

    On their way to summer vacation..

  • SNOBlog

    Beyond 'Woody'

Videos

Advertising Links
TWT Store
  • e-edition
  • Print Edition
  • Weekly Washington Times
TWT Affiliates
  • Middle East Times
  • Golf
  • UPI
  • Arbor Ballroom
  • Washington Times Global
  • About TWT
  • Press Room
  • F.A.Q.
  • Work for TWT
  • Advertise
  • Sponsors
  • Contact Us
  • Privacy Policy
  • Site Map

All site contents © Copyright 2009 The Washington Times, LLC.