Chimerica: The economic relationship between China and America

Harvard professor Niall Ferguson and journalist James Fallows discuss the close economic relationship between China and the United States, something they called "Chimerica." The two spoke earlier this month at the 2009 Aspen Ideas Festival in Aspen, Colo.

Niall Ferguson is a British historian who specializes in financial and economic history, as well as the history of empires. He teaches history at Harvard University and is a professor of business administration at Harvard Business School.

Ferguson spent a good deal of time in China while researching his latest book, "The Ascent of Money: A Financial History of the World."

James Fallows is a national correspondent for The Atlantic, where he has worked for 25 years. Recently, he's been based in Shanghai and Beijing. He's the author of several books, including "Postcards from Tomorrow's Square: Reports from China."

Their conversation was moderated by Scott Stossel, deputy editor of The Atlantic.

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