BIZCHINA> Review & Analysis
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BIZCHINA> Review & Analysis
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Take it easy on China
(China Daily)
Updated: 2006-11-08 10:22 It can be predicted that in pushing China to open, EU officials have been repeating their accusations about China's behaviour in trade and investment. They also like to lecture Chinese officials about the need for more reforms in areas such as making commercial banks more willing to grant loans to non-State borrowers. Some of the charges are certainly justifiable. The country does have much to do in improving its protection of intellectual property rights, although the country has been paying increasing effort to address the issue. However, no one is perfect. Champions of fair trade in Europe did not hesitate much to abandon principle for fairness in launching anti-dumping attacks against innocent textiles and shoes made in Asia. In term of reforms, China is now well aware what it should do in its pursuit of a more mature, sophisticated market economy. In the banking sector, for example, there is a pronounced goal to enable the banks to make business decisions regardless of ownership of the borrowers. But any reform beyond China's WTO commitment should follow the country's own plan and pace. In talking with his Chinese counterpart, Mandelson will surely receive a more positive reaction if he seriously talks about topics such as China's market economy status. (For more biz stories, please visit Industries)
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