My comment: Two reports say it more acerbically.
(a) Keith Bradsher, China Links Investment in Europe With Its Own Agenda for Trade; Beijing is willing to use its wealth to extend its influence. New York Times, Sept 15, 2011
http://www.nytimes.com/2011/09/15/business/global/china-ties-aiding-europe-to-its-own-trade-goals.html?_r=1&scp=1&sq=bradsher%20market&st=cse
Quote:
"The World Trade Organization has technical criteria for countries to decide when China has become a market economy, John Clancy, the European Union’s trade spokesman in Brussels, said Wednesday. China has made progress, but has not met the criteria, in European Union’s view.
"The new market economy designation Mr. Wen seeks would let China avoid the steep import duties assessed on Chinese companies that sell goods in Europe for less than it costs to produce and market them — or what trade lawyers describe as the “normal value” of these goods.
"Under the terms of China’s accession to the World Trade Organization in 2001, the country will automatically qualify as a market economy in 2016.
(b) Jamil Anderlini, China Set Terms for Largesse in Europe; News analysis; States beset by debt will be disappointed if they think that Beijing is riding to the rescue. Financial Times, Sept 5, 2011.
In the print edition, there is a photograph
(i) showing an old couple by the roadside, with the man sleeping on a mat and covered by a rag that served as a blanket, a bucket in front of him to collect money--and his wife kneeling behind him. (Getty Image)
(ii) whose caption read: "Beggars in Guangzhou: many poor Chinese would rather reserves were spent on basic services than on European bonds."