China's high-end European label

Beijing's production move into the eurozone will shore up sales against the region's debt crisis, but also signals a shift from Beijing's position as the world’s low-cost factory.

While European political leaders are praying that China will use some of its massive $US3.2 trillion foreign reserve stockpile to buy bonds of debt-strapped eurozone countries, Beijing is busy thinking up strategies for tightening its hold on important European markets.

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