IN EUROPE, the red carpet. In America, a red mist. This week's tour of European capitals by Wen Jiabao, China's prime minister, underlined the stark transatlantic difference in responses to China's economic clout. European leaders, caught up in the euro area's crisis, want China to buy more of their debt; American politicians worry that it owns too much of theirs. For European politicians the value of the yuan is one worry among many; it sometimes feels like Americans can think of little else. In Europe, Chinese firms are broadly welcome; in America, they are often viewed with suspicion.
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