Despite the years of escalating trade, technology, and geopolitical tensions, historian and economist Niall Ferguson says that the United States and China remain entangled.
What Happened: Appearing on Bloomberg’s Wall Street Week on Saturday, alongside former Treasury Secretary Lawrence Summers, Ferguson used a term that he says he hasn’t used in a while, “Chimerica,” referring to the symbiotic relationship between the U.S. and China.
Ferguson, however, highlights the deeply asymmetrical nature of this relationship, which he had referred to as being “unsustainable” all the way back in 2007.