"Spain's Olympic basketball teams have risked upsetting their Chinese hosts by posing for a pre-Games advert making slit-eyed gestures. The advert for a courier company, which is an official sponsor of the Spanish Basketball Federation, occupied a full page in the sports daily Marca, the country's best-selling newspaper."
As a kid, I remember this thing some of the other students used to do where they would do the same gesture as a way to tell the difference between the Japanese and Chinese. Though I didn't know about stereotypes or political correctness at the time, I had a feeling that it was pretty pointless and dumb.
Congratulations! You have now confirmed my elementary school hunch.