Thursday, September 14, 2006

Paulson on track

It's early, but after two months in office new Treasury Secretary Hank Paulson appears to be on track. The New York Times today details his prepartion for a trip to China. Paulson is using "forceful language" in criticizing China's economic policies in advance of the trip. The trip, however, will first take him to the IMF meeting in Singapore where his intent is to lobby for giving China more of a voice in the international agency. He has an approach and a point of view that is clear. in an article today on Paulson quotes an economics professor as saying "Paulson seems to want to come out with coherent policies instead of the cheerleading, traveling salesman approach that Snow was forced to take. Once you venture onto the rubber chicken circuit you lose something." The Bloomberg story also details an August 18 conference call led by Paulson and joined by the Chairman of the Council of Economic Advisers, the Budget Director, and the head of the National Economic Council. To quote the Bloomberg article, "Paulson was the first to speak, telling reporters that one reason Bush was struggling to get credit from the public for economic growth was that 'many Americans aren't feeling the benefit'." Makes sense.


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