Editor's Note: Before the turn of the century, it was considered a "no brainer" for U.S. businesses: you had to be in China. Fast forward ten years and you have to ask the question, "has China been good or bad for America?" This week in our American Morning original series "China Rising," we're assessing China's economic impact on the United States.
(CNN) – According to the U.S. Treasury Department, China holds $889 billion in U.S. treasuries. As a major lender, it is essentially the banker that funds our government and our recovery.
Gordon Chang, a noted China-watcher and author of "The Coming Collapse of China," explains in his own words why China is unlikely to dump its American investments, and in fact, may need America more than America needs China. Watch: