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.”
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