Paulson's China Charm Offensive

The Treasury Secretary has skill and connections, but his understated approach to financial diplomacy has yielded mixed results in China

U.S. Treasury Secretary Henry Paulson is no stranger to the glacially slow and sometimes maddening ways of Chinese officialdom. He has the most guanxi, or connections, in China of any post-war Treasury Secretary, given his extensive travels to the country during the 1990s as chief executive and chairman of Goldman Sachs (GS). He's familiar with Chinese President Hu Jintao's top economic team, including People's Bank of China Governor Zhou Xiaochuan and Finance Minister Jin Renqing.

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