wen jiabao

Stock markets in Europe traded in fairly narrow ranges Monday as Germany's leader warned that Greece may not get its next batch of bailout cash. Chinese shares surged after authorities pledged to increase bank lending to entrepreneurs. Europe's stumbling efforts to get a handle on its debt crisis remains the focus of interest in the markets.

While American pols deal in brinksmanship over taxes and the economy, China's leaders are smoothly gaining influence on the world stage. Witness the goodwill generated by Premier Wen Jiabao on his recent whirlwind tour of Europe.

In a political victory, Barack Obama emerged from the climate summit in Copenhagen Friday with a global deal to reduce earth-harming emissions. But greens were disappointed the cuts weren't binding while skeptics were sad there was any deal at all.