Week 10 Text Blog Entry 8 - An Article About My Country in the international press

I found a news report in the Washington Post. The headline was about China, it may have cut some key import tariffs. I chose this article because I had found the economy between China and the USA is very complicated and interesting. After the high-level economic talks in Washington, Henry M. Paulson announced that they had made some important achievement the afternoon in the meeting, especially the agreement which can reduce the politically contentious trade deficit between the two countries and global warming. However, one of the most contentious issues, which were the value of China’s currency, was still suspended. America said that China was doing an unfair advantage on world markets. In the other side, China responded that the currency had increased since July 2005, but they admitted the currency was a little undervalued. Although the two countries reached some significant agreements, there were still more than a dozen of others needed to negotiate. America hoped to rebalance the economy in one or two years, but Paulson responded that the idea was preposterous.