US Treasury Secretary Confident on China Economic Reform

July 10, 2013 Share Print 0

U.S. Treasury Secretary Jack Lew has high hopes that the new Chinese government will undertake some of the economic reforms the United States has been pushing for years.
Lew expects that new leaders will support changes that will bring China toward a more market-based economy — including scaling back subsidies for Chinese firms, eliminating artificial controls on the currency and strengthening copyright laws.

“The changes are going to be disruptive,” Lew told CNN’s Fareed Zakaria, as talks between U.S. and Chinese officials get underway in Washington, D.C., this week. “I suspect the moves toward more market-oriented reforms will be clear. But the pace will probably be slower than we would like.”

via CNN

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.