It is an odd gesture for a developing country to buy 37,000 BMW's at times of economic mayhem. Yet, this is exactly what China did when it came shopping in Europe last week. It has concluded a deal of 14 billion USD with Germany and will pump billions more in Spain and the UK.
As a gesture of goodwill this certainly matters. In the first place China is using precious savings to pre-empt protectionism in Europe. But the weakening of the European market also forms an opportunity to get a...
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