U.S. Treasury Secretary Paulson visits China amid rising congressional frustration

[lovuian]

http://www.signonsandiego.com/news/business/20070729-1116-china-us-tradetensions.html

BEIJING – For months, U.S. lawmakers have warned Treasury Secretary Henry Paulson that patience was wearing thin as his economic dialogue with China failed to produce breakthroughs on currency and other disputes.

Now, as he meets this week with Chinese leaders, Paulson faces new pressure in Congress, where legislators have proposed measures that would punish Beijing for manipulating its currency.


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“The problem is, there is very little they can do in the immediate future that will make Congress happy,” said Andy Rothman, a China strategist for investment bank CLSA.

Paulson is due to hold talks with President Hu Jintao and other officials on the “strategic economic dialogue” launched by the two governments last year to deal with tensions over China's swollen trade surplus and other issues. The secretary also is to meet with Vice Premier Wu Yi, who leads the Chinese side of the dialogue.

But Paulson's real target audience is as much Congress as Beijing.
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