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The first trade spat that I covered during my newspaper days was one back in the mid-1990s that pitted Eastman Kodak Co. (NYSE: KODK) against Fujifilm Holdings Corp. (OTC ADR: FUJIY).

At the time, these two companies were the global heavyweights in photographic film, paper, processing chemicals and related services, and each dominated its home market - Kodak in the United States and Fuji in Japan.

In this particular dispute - which escalated into a formal World Trade Organization (WTO) case - Kodak claimed that Fuji was employing unfair trade practices as a means of achieving long-term dominance in the global market for photo products.

According to Kodak (and please understand that I'm vastly simplifying this), Fuji and the Japanese government were collaborating to create a "profit sanctuary" in Fuji's home market of Japan.

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