U.S.- Japan Trade Friction: Creating a New Relationship.

The article discusses trade relations between the U.S. and Japan in 1987. The trade and industrial relations between the two nations are tense because both countries are major players in the global economy. The true nature of the conflict is about which country assumes global industrial and technological leadership. Analysts speculate that Japan could dominate many of the world's industries, particularly high technology. They say if this were to occur the U.S. would become increasingly poorer and its relative standard of living would decline.