AP Photo

On July Fourth, we think about our country and its future. But these days it’s impossible to think about America and its future role in the world without also thinking about China. This was the subject of a combative discussion this week at the Aspen Ideas Festival.

The agent provocateur was Niall Ferguson of Harvard. China and the U.S., he argued, used to have a symbiotic relationship and formed a tightly integrated unit that he calls Chimerica.