Tsy Paulson: Important China Moves Ahead With Reforms-2
Indeed, according to Paulson, "the most important long-term economic relationship we are going to have is going to be our relationship with China, and vice versa."
The Treasury secretary declined to comment on China's role in exerting pressure on North Korea's development of a nuclear program, saying only, "the more constructive engagement we all have together, the higher the cost of any kind of conflict or anything that would undermine the global economic stability."
Turning to the U.S. economy, Paulson called the "progress of the deficit" a "huge positive."
"The concern about the deficit is not the present budget deficit," Paulson said, "it is looking ahead a few years at the big structural deficit we are going to have if we are unable to move quickly."
According to the Treasury secretary, both Democrats and Republicans "understand that the long-term issue that our economy is facing is the increase in benefits."
"They understand that the structural deficit impairs our economic flexibility if we do not reform the programs ... and impairs the retirement security of the younger generation of workers today," Paulson asserted.
"I have talked with a fair number of people on both sides of the aisle that agreed that there is a problem, and it is a problem that needs to be addressed," he added. -By Isabelle Lindenmayer, Dow Jones Newswires; 201-938-5063;
Isabelle.Lindenmayer@dowjones.com (This article was originally published Thursday.)
NEW YORK (Dow Jones)--U.S. Treasury Secretary Henry Paulson remains concerned that China may not move ahead quickly enough with its economic reforms, he said Thursday.
"If (the Chinese) do not move ahead quickly enough with their reforms, then they may have their own economic issues," Paulson said in an interview aired on Fox News.
"As the economy gets bigger and bigger and as they are part way from an economy which is centrally planned to one that is market driven, it is increasingly important that they move ahead quickly with their reforms," Paulson added, "I think that there's more risk on the downside for China."
The Treasury secretary reiterated his stance that China should further reform its economy for its own sake.
"China's economic development is very important to China, and it is very important to the rest of the world," Paulson said. "China needs to keep growing its economy, needs to keep reforming its economy, needs a stable economic relationship around the world."
Indeed, according to Paulson, "the most important long-term economic relationship we are going to have is going to be our relationship with China, and vice versa."
The Treasury secretary declined to comment on China's role in exerting pressure on North Korea's development of a nuclear program, saying only, "the more constructive engagement we all have together, the higher the cost of any kind of conflict or anything that would undermine the global economic stability."
Turning to the U.S. economy, Paulson called the "progress of the deficit" a "huge positive."
"The concern about the deficit is not the present budget deficit," Paulson said, "it is looking ahead a few years at the big structural deficit we are going to have if we are unable to move quickly."
According to the Treasury secretary, both Democrats and Republicans "understand that the long-term issue that our economy is facing is the increase in benefits."
"They understand that the structural deficit impairs our economic flexibility if we do not reform the programs ... and impairs the retirement security of the younger generation of workers today," Paulson asserted.
"I have talked with a fair number of people on both sides of the aisle that agreed that there is a problem, and it is a problem that needs to be addressed," he added. -
美国财长称中国推进经济改革至关重要
美国财政部长鲍尔森(Paulson)周四表示，他仍对中国可能不会快速推进经济改革感到担忧。
鲍尔森在接受Fox News采访时表示，如果中国不能快速地推进经济改革，那么其自身可能将面临一些经济问题。
鲍尔森补充说，随着中国经济日益壮大，在由计划经济体制向市场经济体制转变的过程中，快步推进改革进程越来越重要。他还补充说，他认为中国经济增速放缓的风险更大。
鲍尔森还重申了他本人所持的中国应出于自身利益考虑进一步推进经济改革的立场。
他表示，中国的经济发展对中国而言至关重要，对世界其他国家也极为重要；中国需要继续发展经济，需要继续推进经济改革，需要与世界其他国家维持稳定的经济关系。
鲍尔森说，实际上，未来美国寻求的最为重要的长期经济关系就是与中国的关系，而中国也在寻求发展与美国的长期经济关系。
关于中国针对朝鲜发展核项目而向该国施压方面所扮演的角色，鲍尔森拒绝置评。
对于美国经济，鲍尔森认为在赤字问题上的进展是个巨大的积极因素。
他表示，对赤字的担忧并非在于目前的预算赤字，而是在于如果不能迅速采取行动，那么未来几年美国将出现巨大的结构性赤字。
鲍尔森表示，民主党和共和党均已意识到美国经济发展所面临的长期问题是增加福利的问题。
Isabelle Lindenmayer
