Paulson calls on China for looser yuan

U.S. treasury secretary Henry Paulson, called on China to reduce currency controls and clamp down on software piracy in the first round of talks held Thursday 14 December.

In the first round of new biannual talks between Chinese and U.S. officials in Beijing, Paulson said Thursday the effort must produce ``tangible results'' to forestall protectionism. Chinese Vice Premier Wu Yi suggested those looking for a quick breakthrough are misguided.

``Some American friends are not only having limited

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