In conventional mass media and online of late, one can discover abundant information describing the unprecedented scale and intensity of industrial cooperation and capital migration between the United States and China.
On the one hand, there is huge American foreign direct investment in China and plentiful highly efficient China-U.S. joint ventures involved in subcontracting and outsourcing and mostly doing well even under the hard conditions of the global crisis.
On the other hand, China holds more than $1 trillion in U.S. government bonds representing a long-term investment in the U.S. economy — an especially significant fact in the light of an eventual default threatening the credibility of the U.S. administration.