While we love the line about possible <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />China connection with getting the Ignite back to production status, we realize the smart card “hype” that failed to materialize.  But it’s not just us and our Ignite chip.

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"Secretary Paulson is coming to the realization that everyone else who deals with China comes to. There's a lot of talk, but not much action," Schumer, D-N.Y., said in a statement.

U.S. manufacturers contend that China's currency is undervalued by as much as 40 percent. That makes Chinese goods cheaper for American consumers and means U.S. products are more expensive in China.

The issue of China's currency values is one of the topics being addressed by the new Strategic Economic Dialogue. This initiative involves top economic policymakers from both countries in twice-a-year meetings. The next session will take place May 23-24 in Washington.

On his trip next week, Paulson will meet with Vice Premier Wu Yi. The secretary will hold meetings in Shanghai, China's financial capital, with financial sector leaders and give a speech on Chinese financial market reforms.

The administration is trying to convince the Chinese to open their financial markets to greater participation by U.S. companies.