US Treasury Secretary Henry Paulson said last night that the United States was impatient for forceful Chinese action to cut trade deficits but Chinese Vice Premier Wu Yi said Beijing would not yield to pressure.
'There is growing skepticism in each country about the other's intentions,' Paulson said at the start of two days of talks with a Chinese delegation and amid growing anger in the US Congress over China's huge trade surplus.
'Unfortunately, in America this is manifesting itself as anti-China sentiment as China becomes a symbol of the real and imagined downside of global competition,' Paulson said.
While early signs suggested the talks would not produce much of substance, US officials said they were nonetheless important for advancing a dialogue between two countries that accounted for half of global economic growth in recent years.
