The Downside of Openness

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  As an investment banker, Henry Paulson was known for his 70-odd visits to China. This high frequency has been sustained since he took over the U.S. Treasury in June lastyear. On March 7-8, he visited China for the third time as U.S. Treasury Secretary, main-ly to prepare for the Second China-U.S.Strategic Economic Dialogue to be held in Washington in May. During the two-day trip, he once again raised the predictable demand that China should further open its markets to U.S. financial institutions.
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