China Bets Big On America

Forbes reports:

Chinese dependence on exports to America was reaching unhealthy--and unsustainable--levels. In 2007 China's export surplus with America was $258.5 billion, just $3.7 billion less than the country's overall trade surplus of $262.2 billion. In 2008 all but $27.5 billion of China's overall surplus of $295.5 billion related to sales to the U.S.

In short, China's U.S. trade surplus constituted 98.6% of its overall surplus in 2007.