China's boom and Europe's profiteers

While China's economic growth is engendering considerable concern across the world there are also states in crisis-ridden Europe that are benefiting hugely from the Chinese boom, writes the conservative daily Lidové noviny: "Germany's healthy growth despite the euro crisis has much to do with its contracts with China. Although German goods aren't cheap, they can't be had elsewhere at the same cost-performance ratio. That's something people in Beijing appreciate. More than 60 percent of China's imports from Europe come from Germany. The Germans have things that the Chinese don't have now and won't have for some time to come. ... That also has advantages for us Czechs, as our economy is closely tied to Germany's, making us a kind of German sub-exporter. And that's about the best we can hope for."

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