EU must recognise it as market economy: China

THE FINANCIAL EXPRESS: Saturday, July 08, 2006

JULY 7: The European Union should recognise China as a market economy, said Yu Guangzhou, China’s vice minister for commerce, a move that would make it easier for the Asian economy to defend itself against anti-dumping actions. The EU decided this year to punish Chinese footwear producers for selling shoes below cost, sharpening tensions that started with European restrictions on Chinese textiles last year and exacerbated by complaints that China is ignoring European copyrights and trademarks...

‘‘Whether you acknowledge it or not, the market economy is in existence in China and this is a fact which cannot be denied or neglected,’’ Yu told a conference in Brussels, speaking through an interpreter. ‘‘We should not politicise economic issues nor enter into opposition with each other or resort to sanctions at every turn.’’