China needs to reduce unfair subsidies and stop the theft of intellectual property as well as letting its currency appreciate, Tim Geithner, US Treasury secretary, has said.
In a speech on Wednesday ahead of next week’s visit to Washington by Hu Jintao, Chinese president, Mr Geithner widened the range of US concerns about Chinese economic policy well beyond the currency that has been a focus of Capitol Hill’s anger with Beijing.
But he also sought to reduce the blame attached to China for domestic economic woes, noting that the US needed to invest more in research and development, reform education and improve public infrastructure.
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