Wang Qishan recognizes that China has a vital role not only as a beneficiary of the global economy but also as a driver of that economy's success. He is the man China's leaders look to for an understanding of the markets and the global economy. As a result, China has been supportive of U.S. actions to stabilize our capital markets and has not given in to those who advocate reversing economic reform to insulate China from the world.
I know Vice Premier Wang, 60, to be decisive and inquisitive. He is an avid historian, enjoys philosophical debates and has a wicked sense of humor. He is a Chinese patriot, but he understands the U.S. and knows that each of our two countries benefits from the other's economic success. And he is bold he takes on challenges, does things that have never been done before and succeeds. Wang managed the largest bankruptcy restructuring in China's history in 1998 and thereby prevented a banking crisis that could have crippled the country's growth.
Wang was my partner in leading the U.S.-China Strategic Economic Dialogue. Together we moved the U.S.-China relationship to a new level of stability. We made progress on vital economic issues: appreciation of the Chinese currency, more air flights between our nations, greater food- and product-safety coordination. Then we launched cooperation on one of the most important issues of our lifetime: climate change. Wang Qishan thinks globally and because of that, China and the world are better off.
Paulson was until January the U.S. Secretary of the Treasury