China, EU will exchange ideas at summit

BRUSSELS - Europe is not ready to grant China market economy status or lift an arms embargo to obtain the country's help in overcoming the eurozone's sovereign-debt troubles.

Ahead of the EU-China summit scheduled for next Tuesday in Beijing, sources in the European Union said European politicians insist that giving China market economy status is not a "tradable" issue.

The granting of such a status would mean the country has been deemed to have a free market and that the economic information it provides can be taken at face value in trade disputes.