Trade frictions between China and the US

Seminar paper from the year 2010 in the subject Economics - International Economic Relations, grade: 1,1, The University of Hong Kong, language: English, abstract: History plays a funny role in repeating itself. With light of the current trade frictions between theUnited States and China, their trading histories become increasingly relevant. Little did both sides knowthe substantial impact of President Nixon’s 1972 meeting with Chairman Mao—the event laid the basisfor growth and development between both countries for the next several decades: into a presentwhere the US dominates while China has the fastest growing financial market of the Twenty-firstCentury. Up until recently, their trade relations have been, if not smooth, at least civil. However, theincreasing number of disputes in trade and policy-making may adversely affect the development ofSino-US relations on the world market. As the international society turns their critiquing eyes towardsthe friction currently plaguing the US and China, the two world powers are placed in the precariousposition of settling these disputes to not only decide the future of their own fragile partnership, butthe ultimate direction of the world trading scene.