The U.S.and China (no.1 and no.2 global powers)continue to spar over sociocultural issues,such as human rights,and economic and financial issues,such as the value of the Chinese Yuan against the U.S.dollar.U.S.diplomats complain that these differences continue to bolster China's favorable balance of trade and increase the U.S.trade deficit.The trade protectionist policy exhibited by the Chinese is similar to an economic policy known as ____________ that was followed during the 17^th and 18^th centuries.This policy resulted in a flow of money to the country that sold the most globally.

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Mercantilism is an economic policy that was followed during the 17th and 18th centuries where a country focused on achieving a favorable balance of trade by exporting more than it imported. This policy resulted in a flow of money to the country that sold the most globally. The trade protectionist policy exhibited by China, which is leading to a favorable trade balance and increased trade deficit for the U.S., is similar to the mercantilist policy.

The USAnd China (No