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China continues to show its growing muscle.
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BEIJING — If China is going to help ease Europe’s financial crisis, silken strings could be attached.
Premier Wen Jiabao on Wednesday offered to help Europe. But, in an unprecedented move for China, he linked the offer to a potentially onerous demand: that Europe renounce its main legal defense against low-priced Chinese exports.
Mr. Wen urged the European Union to classify China as a “market economy” instead of a “nonmarket economy.”
In international trade legalese, the new designation would make it almost impossible for Europe to impose tariffs on Chinese goods considered unfairly cheap.
-- Keith Bradsher for The New York Times
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And no doubt the new designation would also make European workers that much poorer. So, it's probably a done deal.
_ _ _
BEIJING — If China is going to help ease Europe’s financial crisis, silken strings could be attached.
Premier Wen Jiabao on Wednesday offered to help Europe. But, in an unprecedented move for China, he linked the offer to a potentially onerous demand: that Europe renounce its main legal defense against low-priced Chinese exports.
Mr. Wen urged the European Union to classify China as a “market economy” instead of a “nonmarket economy.”
In international trade legalese, the new designation would make it almost impossible for Europe to impose tariffs on Chinese goods considered unfairly cheap.
-- Keith Bradsher for The New York Times
_ _ _
And no doubt the new designation would also make European workers that much poorer. So, it's probably a done deal.
