China ready for currency flexibility says US

US Treasury Secretary John Snow said "now is the time" for China to change its currency system, but there is no indication that the Chinese feel the same sense of urgency.

Snow spoke to reporters after a speech in Connecticut while back in Washington a delegation from China's central bank was holding the fourth in a series of discussions to provide China with technical help in overhauling its currency system.

"It clearly is time for the Chinese to act," Snow told reporters following a speech in