The new masters of the universe?

1.  Wen Jiabao, the Chinese premier, made plain that his country's economy is not immune from the crisis. But, unlike the US and Europe, which are heading for recession or in it, China had put in place the monetary and regulatory measures to ensure continued growth.

2.  Wen promised to continue the shift towards domestic consumption and to open up the economy further.

3.  The Chinese are investing heavily in R&D and moving rapidly up the technological value-chain but we Europeans are in danger of falling behind and failing to invest in research.

http://www.guardian.co.uk/business/2008/oct/02/creditcrunch.china