Dumping disputes are still a sore point in Europe's relationship with China. Jose Manuel Barroso, president of the European Commission, said over the weekend that there are still four obstacles in the way of the EU recognizing China as a market economy – state influence, accounting rules, a bankruptcy law and financial services sector reform all need to see improvements. Trade between China and the EU has grown to US$255 billion per year but disagreements over China's cut price goods have created problems, the Financial Times reported. Barroso said: "These are relevant to determining prices and costs in anti-dumping. Once these criteria are fulfilled, we won't wait a day."
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