when europe and China both likely reject China's market economy status,
What does that mean?
What does that mean?
http://www.reuters.com/article/us-china-usa-trade-idUSKCN0ZU...
http://thediplomat.com/2016/07/market-economy-status-for-chi...
The argument is essentially that China's economy doesn't function as a proper market economy. That too much of its economy is directly governed by State controlled or owned corporations. That prices in its economy don't function enough based on market influences. An example of this would be their vast dumping of steel and some other industrial products, while their government continues to directly subsidize the dramatic over-production despite large losses in the steel industry.
Which is true. I really hope this happens, it's time for China to start playing by the rules of a real market economy or lose access to the global market. We should not tolerate China subsidizing their industry, at the expense of other industrial countries.