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media 1 - trade dispute courseh

media 1 - trade dispute courseh - Media Paper#1 Trade...

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Media Paper #1 – Trade Dispute: India and China China and India, countries with the two largest populations in the world, are in the midst of trade disputes over toys, tires, and iron ore. With a substantial decrease in demand in the United States with regard to the vast quantity of Chinese exports, which make up roughly 1/3 of its annual economic output, the Chinese find India’s developing economy as a potential source for alleviating their new trade problems abroad. However, India briefly banned imports of Chinese-made toys this past year, which, according to the Indian commerce secretary, Gopal Pillai, “…we have a problem with a surge in exports that hurts Indian industry.” Retaliatory economic policies by either country will only produce more anxiety and frustration, as the global economy struggles to keep up with the financial problems arising from new and unexpected sources of previous stability. China is India’s largest trading partner, the bilateral trade rising to a little over $50 billion in 2008.
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