The Financial Crisis and US-China Misperceptions

The decline of AmericaAmerica and the ascendancy ChinaChina has become a popular theme, nothing seemed to provide clearer marker those disposed idea than financial crisisFinancial crisis 2008, 2008 great recession that followed. AmericaAmerica, larded with personal debt, saw jewel in its empire, Wall StreetWall Street, stumble fall, while China, factories spewing exports across PacificPacific, The, became America’sAmerica lender, holding more $2.5 trillion foreign exchange reserves, much it U.S. bonds.