Word: china
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Dates: during 2000-2009
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...relationship between China and the U.S. may be the world's most complicated. While the two economies desperately need each other - China relies on exports to the U.S. to drive growth while the U.S. requires investments from China to finance its giant deficits - Beijing and Washington nevertheless routinely spar over a wide range of sensitive issues. The U.S. has accused China of manipulating its currency to unfairly promote exports, while China has openly called for the replacement of the U.S. dollar as the world's premier currency. But with so much at stake, the two nations have tried to keep...
...Until now. A widening trade dispute threatens to ratchet up tension in the China-U.S. relationship, with potential consequences for the entire world economy. The spat began on Sept. 11, when the Obama Administration announced it will slap tariffs of as much as 35% on Chinese-made tires, effectively pricing them out of the low end of the American market. Two days later, China's Ministry of Commerce said it would start antidumping investigations against imports of some U.S. chicken products and auto parts. Though the ministry's announcement made no mention of the tire tariffs, the timing...
...Some analysts fear the ill will caused by the tariff dispute could lead to an escalating round of conflict between the two nations, souring overall U.S.-China ties. "The action taken by the U.S. government no doubt will damage the Sino-American relationship seriously at a time when mutual trust is most needed," comments Yu Yongding, an economist at the Chinese Academy of Social Sciences in Beijing. "This is indeed a very bad beginning for the Obama government in terms of cooperation" between the two countries. (See pictures of people around the world watching Obama's Inauguration...
...timing couldn't be worse. Policymakers and business leaders have been looking more and more to a partnership between China and the U.S to solve the world's most intractable problems, from reform of the global financial system to climate change to nuclear proliferation. Most pressing, cooperation between Washington and Beijing is seen as absolutely crucial to nurturing the budding recovery of the global economy. The two sides need to alleviate the giant economic imbalances - excessive debt and deficits in the U.S. paired with excessive savings in China - to restore the world economy to a more sustainable growth path...
...show that engagement with Iran produces results - but there may not be any by this fall, the unofficial deadline set by the Administration. If that prompts Obama to seek further sanctions via the U.N. or impose them unilaterally, however, the resulting divide between the West and Russia and China will work to Iran's advantage. New sanctions would also end immediate prospects for a diplomatic solution, because Iran has long declared that it won't negotiate in response to ultimatums. And a continuing stalemate would leave Obama facing either the possibility of an Israeli air strike on Iran's nuclear...