Paulson at The Plaza: Optimistic on Foreclosures, China

In his first public appearance in New York since July, U.S. Treasury Secretary Henry Paulson, arguably the nation's most powerful person right now, talked about efforts to stem foreclosures and advocated closer ties with China as a means to strengthen the U.S. economy.

"While some see China as a threat that must be countered or contained," he said in a 10-minute speech, "I believe that the only path to success with China is through engagement. We must recognize that China's growth is an opportunity for U.S. companies and consumers, for our producers, exporters and investors."

Secretary Paulson addressed the National Committee on United States-China Relations at the Plaza Hotel on Tuesday, where he was honored at the non-profit organization's annual gala dinner for his work promoting dialogue between the two countries. (The press was kept safely contained in balconies above the crowd during the secretary's speech.)  read more »

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