TradeSince the 1990s, China and India have developed rapidly, bringing more than a third of the world’s population into the global market. American investors, business, and the federal government have vested financial interests in each of these emerging markets. Although India is quickly cornering the services and technology sectors, China has led the way in manufacturing. In fact, America’s trade deficit with China has been one of the federal government’s top concerns in recent years as the United States buys more goods from China than China buys from the United States. But many U.S. policymakers hope that increased trade with China will reduce the likelihood of any hostilities erupting between the two countries.China Despite high levels of trade in the past decade, the United States’s relationship with China has soured considerably since the end of the Cold War. Beginning in the 1970s, China and the United States worked together to check the power of their mutual enemy, the Soviet Union. With the Moscow threat gone, however, neither country needs the
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