By  on December 13, 2007

XIANGHE, China — With rising inflation and a potentially overheated economy, China should quicken the rise of its currency to maintain economic stability, U.S. Treasury Secretary Henry Paulson Jr. told Chinese officials on Wednesday.

"China's leaders have voiced concerns about China's macroeconomic stability, in particular mounting inflation, growing asset bubbles and possible overheating," Paulson said. "A more flexible exchange rate policy is especially important to China now, given these risks."

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