Chimerice-just a choice

In his latest book,"The ascent of Money"historian Niall Ferguson descriles the emergence of a new post-Cold War superstae called Chimerica,it is a ficional combination of China and the United States.China has transacted US 305 billion dollars in trade in the first nine months of this year.Some anylasts even calculated that China has invested one trillion US dollars of it's reserves in US debt securities,including debt issued by FAnnie Mae and Freddie Mac.There is also an unwritten rule between Beijing and Washington, Chinese credit in exchange for the access to the US market.In other words the enconomies of China and the US are so mutually-dependent are the enconomies of China and the US that a recent research by Citigroup found that if the US slowed by 1 percent,China would slow by 1.3 percent.

Reflection
I agree with this atricle that China and the US need each another to survive.However I do not think that Chimerica will ever be formed as the US and China have a lot of differences that cannot be resolved easily.However I hope that one day this state will emerge as this can only means more enconomic growth for Singappore and the rest of the world.I also think that this atricle is also trying to show one thing and that is that countries in this world have to rely on one another to survive.I also hope that US and China will continue to work together. Posted by Benedict chee