February 01, 2007	Thursday	Muharram 12, 1428

WASHINGTON, Jan 31: Treasury Secretary Henry Paulson on Wednesday promised US lawmakers angry over Asian trade policies that he would press China harder to fully float its currency, while keeping a wary eye on Japan's yen.

Appearing in Congress for the first time since Democrats regained control, Paulson stepped up his rhetoric against China as he reported back on high-level talks in Beijing a month ago, and addressed concerns about unfair trading policies.

“China does not yet have the currency policy that we want it to have and that it needs,” he said in prepared remarks.

China stands accused of massaging its exchange rate to depress the yuan's value and so boost the razor-sharp competitiveness of its exports, at the expense of US jobs.—AFP