U0S0 TREASURY SECRETARY HENRY PAULSON SAID TODAY THE UNITED STATES MUST RESIST THE TEMPTATIONS OF PROTECTIONISM AND INSTEAD WELCOME INTERNATIONAL COMPETITION TO PROSPER IN THE GLOBAL ECONOMY0 DELIVERING AN ADDRESS AT COLUMBIA UNIVERSITY)S SCHOOL OF BUSINESS IN NEW YORK1HIS FIRST MAJOR SPEECH SINCE HE WAS SWORN IN THREE WEEKS AGO1PAULSON SAID THE NATION 2MUST WELCOME COMPETITION NOT RUN AWAY FROM IT0# PAULSON ALSO SAID HE WAS COMMITTED TO A STRONG DOLLAR AND THAT HE WOULD WORK TO TACKLE LONG-TERM IMBALANCES IN THE NATION)S LARGEST INSURANCE AND PENSION BENEFIT PROGRAMS: SOCIAL SECURITY MEDICARE AND MEDICAID0 AS THE U0S0 TRADE DEFICIT APPROACHES $1 TRILLION PER YEAR MANY LAWMAKERS IN CONGRESS AND TRADE UNIONS HAVE CALLED FOR STRONGER PROTECTIONS AGAINST UNFAIR FOREIGN TRADE PRACTICES0 2I BELIEVE THAT A STRONG DOLLAR IS IN OUR NATION)S INTEREST AND THAT CURRENCY VALUES SHOULD BE DETERMINED IN OPEN AND COMPETITIVE MARKETS IN RESPONSE TO UNDERLYING FUNDAMENTALS# PAULSON SAID POSSIBLY REFERRING TO CHINA)S CONTROVERSIAL REFUSAL TO FREELY-FLOAT ITS CURRENCY ON INTERNATIONAL MARKETS0
