China

The Chinese know that any money they dedicate to Europe would be a highly risky engagement. They realise that Europe’s growth inertia, debt dynamics and demographic change are condemning the Europeans to decades of slow decline. And they are fully aware that Europe’s social model is finished.

There is no doubt that China’s resilient economic growth has prevented the economic crisis from becoming an economic catastrophe for the world. Yet among the dark sides of China’s rising economic power is an astonishing disrespect for intellectual property.