International Conflict Between U.S. and Term Paper

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It is necessary to underscore this importance given the current fragility of the international trading system amid a global resurgence of protectionist pressures due to the deepening economic crisis (Bown, 2009).

In 2006, and in response to increased political pressure by the U.S. Congress, Washington initiated the current U.S. strategy of using the judicial forum of the WTO to manage bilateral trade frictions with Beijing. In March 2006, Canada and the European Community (EC) joined the United States in the first dispute by challenging China's discriminatory treatment of imported automobile parts. In 2007, the United States and Mexico disputed China's system of subsidizing domestic industries. Also in 2007, the United States initiated two complementary disputes over China's treatment of imported movies, music, and books, both Beijing's failure to enforce American intellectual property rights protection and its creation of regulatory hurdles that impede Hollywood film studios and other media and publishing companies from distributing these products within China. In 2008, the United States, EC, and Canada began a challenge to the way China regulated foreign firms like Bloomberg, Dow Jones, and Thomson-Reuters that tried to provide financial information services to customers in its domestic market (Bown, 2009).

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Experts believe that in order for there to be a global balance there would need to a decrease in the savings rate in China as quickly as the savings rate in the United States goes up. The growth model that China has followed which has been aggravated by the fiscal, credit, and monetary stimulus in response to the crisis, is likely to persist with a process in which total income, GDP, grows faster than consumption. Over the short-term this can be changed a little bit by an increase in investment, but that increase in investment is probably not going to be sustainable (Pettis, 2010).

There is definitely tension between the two countries which must be resolved before the global economy can begin to grow once again. Hopefully with the intervention of the WTO the two sides can come to an understanding that will allow for each country to get on the right track towards economic stability......

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