US, China agree reforms but differ on timing

Following the talks in Beijing last week U.S. Treasury Secretary Henry Paulson said China and the US have agreed basic principles on a wide range of issues including economic times, but the timing of any moves remains a stumbling block.

"I am very pleased with what we've accomplished because we've got some immediate tangible results," Paulson said at a 15 December press briefing in Beijing, following two days of negotiations between senior U.S. and Chinese officials.

Paulson lead a U.S. delegat