EU decision on China's market status

A European Union assessment of China's economy obtained by the Financial Times indicated the EU will refuse to recognize China as a market economy for the time being. The EU investigation reportedly found China suffering from state interference, weak rule of law and corporate governance. Premier Wen Jiabao and other Chinese leaders have lobbied hard for market economy status, which makes it harder for countries to level anti-dumping charges against China. Mainland exporters were recently charged with dumping TVs and furniture products in the US. China recently widened anti-dumping investigations into foreign optical fiber makers shipping product into the mainland. In its bid for market status, Beijing has won over New Zealand, Singapore and Malaysia, but none of its big trade partners.