The US Economy and Obama's Roadmap Forward

The Emergence of the Fire Pt 2

Foreign policy and the global economy are some of President Obama's greatest challenges in the road going forward. The foreign policy priorities besides wars in Afghanistan and Iraq, are China first, Africa second and the Muslim world is third.

America must reorder the trade balance and maintain balance and influence in the far east., mullify the hazards of the muslim world and explore and expand the US partnership in Africa to further US international interest.

China is arguably the world's most significant trading alliance,bilateral trade between the two countries exceeded US$380 billion in 2007.

For the first time in more than a decade, net trade between China and the U.S. is expected to decline in 2009 against the backdrop of the global financial crisis.
Chinese President Hu Jintao urged U.S. President Barack Obama not to slap duties on more Chinese goods after a dispute over tires but stressed hopes for steady economic ties.
Obama placed a 35-percent additional "safeguard" tariff on tire imports from China, a move Beijing condemned as protectionism that could cloud global economic recovery [ID:nN22369535].

"The special safeguard measures the United States has taken against Chinese-made tires exported to the U.S. suits neither countries' interests, and similar cases should not recur," a cited Hu as saying.

Obama imposed the tire tariffs under an anti-import surge mechanism known as Section 421, the first time Washington used the mechanism against China, which agreed to the measure as a price of its admission to the World Trade Organization in 2001.

China fears the safeguard rule could be used against other products.

Some economists believe imbalances between export-driven economies, especially China, and consumption-driven economies, especially the United States, helped set the stage for the 2008-2009 financial crisis.

Africa is where a new economic partnership can be built. Through an aggressive campaign for tourism and resources, America can help both economies flourish. Trade between Africa and China was worth $10 billion in 2001. By 2008 it had increased to $107 billion.