This month, Euromoney seeks to debunk two of the great myths of the international financial markets.
The first relates to Europe. As Euromoney went to press in late August, a trade row had erupted between the European Union and China about the import of textiles from the People's Republic.
The interventionist leanings of the EU had persuaded its trade commissioner, Peter Mandelson, to impose a limit on the amount of textile goods that could be imported from China. What Mandelson and his advisers hadn't reckoned with was that Chinese textiles exports to Europe were of such a magnitude that enforcing the quota would lead to shortages throughout the EU's retail...
