Beijing - China has agreed to open its arms to western capitalism, writes Miriam Donohoe. In a sign of growing affluence, the US luxury jewellery retailer, Tiffany & Co, is to will open its first store in the communist country next month.
"China has clearly been performing exceptionally well, building middle-class wealth" a Tiffany spokesman said. "We think it is the right time for us to break into the Chinese market." The move comes as China this week was accepted as a member of the World Trade Organisation.