Economics
U.S. Rebukes China for Backing Off Market Embrace
- Treasury’s intl chief sees rising China state role in economy
- Malpass invites market-oriented allies to help find solutions
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The Trump administration rebuked China for not being tough enough over North Korea’s nuclear program and said the Asian country is backsliding on market-oriented reforms.
The U.S. wants to work with other major economies to come up with a united response to what America sees as China’s foot dragging on economic changes, ranging from reforming state-owned enterprises to curbing the ruling party’s role in the economy, said David Malpass, the Treasury’s undersecretary of international affairs.