The Big Money presents "Every Day I Read the Book," featuring Daniel Gross. Dan's guest is Zachary Karabell, author of the book Superfusion: How China and America Became One Economy and Why the World's Prosperity Depends on It.
It's common to hear experts on the global economy proclaim that the economies of China and the United States have become joined together, that the largest economy in the world and what may soon be the second-largest share a common financial bloodstream. In his new book, Zachary Karabell, a historian, money manager, and consultant, looks into how this happened. And he explains why the relationship between the two countries has become more complicated than a simple arrangement whereby the United States buys Chinese manufactured goods and China buys U.S.-manufactured bonds.