Telegraph | Money | EU spells out trade threat from China:
"China's lightning advance into the production of cars, computers and high-tech industry poses a serious threat to Europe's economic base, according to a report by the European Commission.

Guenther Verheugen, the new enterprise and industry commissioner, said the EU must improve to avoid quick relegation down the world's economic league as Asia storms ahead on every front.

Once despised as low-cost producer of shoddy textiles and toys, China is now starting to match western technology, but at a far lower cost."  ¶ 11/30/2004 06:51:00 PM