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US official China currency moves ''not enough''

Written by: Staff

WASHINGTON, Apr 20 (Reuters) China's moves toward currency flexibility were ''not nearly enough'' to satisfy US concerns, a White House official said today.

The official added, however, that the Bush administration is hopeful about some progress in the future.

''The Chinese are beginning to use their new system for having a flexible currency,'' said Dennis Wilder, an Asia specialist with the White House National Security Council. ''It's not enough, it's not nearly enough.'' His comments came after Bush met with Chinese President Hu Jintao at the White House and pressed him to take steps to reduce China's huge trade surplus with the United States.

Hu assured Bush he was working to make the Chinese currency more flexible but gave no specifics.

''We're disappointed with how slowly they've moved to use it. But over time we believe they have the ability to use it more,'' Wilder said.


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