The symbiotic trading partnership between the United States and China will cause both economies to slow down over the next two years, dragging down other Asian markets, experts predict.
Sino-US trade now stands at US$300 billion annually, while the US trade deficit with China widened to US$202 billion last year.
As a result, protectionist sentiment is becoming a threat in Washington, said US Deputy Trade Representative Karan Bhatia last week.
'With respect to China, some [US politicians] have advanced legislation that would seek to roll back the clock. US commentators are stoking unsubstantiated fears about job losses, national security or simply the unknown,' he said.
The US government is resisting domestic pressure to be protectionist against China, said Mr Bhatia. 'It is our responsibility to shatter these myths, to evangelise trade. We are working to change the political climate on trade.'
But Diana Choyleva, director of Lombard Street Research, a London think-tank, said: 'The US and China have been joined at the hip by marriage, which unfortunately is going to end up in tears.'