The U.S. and China 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 assert 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 17th and 18th centuries. This policy resulted in a flow of money to the country that sold the most globally.
A) trade embargoing
B) countertrading
C) profiteering
D) mercantilism

Question

Quizplus · Accepted Answer

The economic policy known as mercantilism was followed during the 17th and 18th centuries, which aimed to increase a country's wealth by promoting exports and limiting imports. This policy resulted in a favorable balance of trade, where the country selling the most globally received a flow of money. China's trade protectionist policy is similar to mercantilism, which is argued by U.S. diplomats to be contributing to the U.S. trade deficit.

The US and China Continue to Spar Over Sociocultural Issues, Such