Paulson warned Congress as to endanger its own sanctions on China.

<P>: Http://finance. News, U.S. Treasury Secretary Henry Paulson warned Congress 10 again: If for the introduction of unilateral punitive China trade bill may not only endanger America's future economic development, but also have been due to make .subprime mortgage crisis and the precarious financial markets in the United States more chaotic. .</ P> <P> Paulson said: "If we take unilateral action against another country, it may in turn affect our own economic stability. This is tantamount to playing with fire." </ P> <P> .business leaders and Paulson to reach a consensus </ P> <P> day Paulson talks with several business people. .These were mainly from the financial services, manufacturing, automotive industries. .After Treasury Secretary Paulson in media interviews arranged by the office, emphasized that some business leaders are looking to increase exports to make their business out of the current economic downturn. .They all trade with China through the brewing of Congress expressed concern about the protection of the proposal, fearing to raise tariffs on Chinese goods, and other punitive measures could lead to China's retaliation. .</ P> <P> "on the current situation, all on the trend of economic globalization are extremely sensitive to many countries already had a trade protection sentiment." Paulson said, "will take unilateral punitive action .trigger a trade war, or disrupt the financial market order. "</ P> <P> Paulson said he worried about losing China, a leading global economic growth, and has become an important export market for U.S. goods trading partner. .</ P> <P> Last year, U.S. exports to China grew 32%. .According to the U.S. Treasury Department's report, the second quarter of this year, U.S. exports rose 4%, of which exports to China contributed at least 1 percentage point. .</ P> <P> the initiator of the proposal: to continue to promote the vote </ P> <P> Paulson, Congress did not specify which proposals contain penalty clauses. .But in summer recess this year, the U.S. Congress (August 3 ~ September 3) before the two committees each passed the Senate two proposals have been well received outside attention. .Among them, the Finance Committee on July 26 adopted the provisions of the proposal by the "exchange rate deviation China" products hit U.S. companies the right to ask the U.S. government on imports from these countries to take anti-dumping measures related products; the Banking Committee, adopted on August 1 .strict constraints on the U.S. government proposal "currency manipulation" is defined rights and requirements, if a country is the U.S. Treasury Department as "currency manipulator", the U.S. Treasury Department must take up bilateral negotiations with the country and to the International Monetary Fund .appeal against the two measures organization. .</ P> <P> 10 days, the Finance Committee of the four sponsors of the proposal in two - Committee Xibaokesi, New York Democratic Senator Charles Schumer's remarks on Paulson to respond to the proposals for their .defense. .They said that punitive bill against China will not affect U.S. exports, but will not affect the U.S. economy, they will continue to promote such proposals in Congress to vote. .</ P> <P> and Paulson said in an interview 10 days, the past year, economic and trade relations between China and the U.S. has made many positive developments, including China's recent liberalization of U.S. financial institutions. .He also noted that since the second half of 2005 the RMB against the U.S. dollar exchange rate has risen by 10%. .He said any retaliatory measures will harm the progress has been made to undermine the United States and China and other trading partners. .</ P> <P> Paulson believes that behind all the problems is that many Americans that China's success and economic growth and U.S. interests against each other. .And he and others in government functions is that the American people and members of Congress to persuade the Chinese as a cheap consumer goods producer, and the U.S. export market, so that they believe the U.S. will benefit from China's development. .</ P>.