The Chinamerican economy

E pluribus unum!

As the United States racks up ever higher budget deficits, China has bought ever greater quantities of American debt. Now many observers—including the U.S. and Chinese governments—are concerned about imbalances in the relationship between the two countries. Author Zachary Karabell says that conventional wisdom may be wrong. In his book Superfusion: How China and America Became One Economy and Why the World’s Prosperity Depends on It, he argues that the Chinese and American economies have become a unified system that can benefit both parties—but can’t be undone.

via Zachary Karabell on U.S.-China Relationship | Newsweek The Next Economy | Newsweek.com.

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