Yahoo! News – U.S.: Reform Key to China Market Economy: “China has lobbied hard for its trading partners, especially the United States and Europe, to grant [market economy status] in the hope it would cut the number of anti-dumping cases brought against it.

In a speech praising China for its economic progress to date, U.S. Commerce Secretary Don Evans said the export giant […] needed to cooperate more on issues including rampant piracy and its fixed currency regime.

‘China must significantly reduce government micromanagement of its economy and introduce a far higher level of transparency — among other changes — before it can achieve a full transition to a market-driven economy,’ Evans said in a speech to the American Chamber of Commerce in Beijing.

Market forces would not dominate China’s booming economy until Beijing substantially rolled back controls over raw materials, the financial system, real estate and large enterprises, he said during a four day visit to China.

[M]embers of the [WTO] can treat China as a ‘non-market economy’ until 2016. “

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