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From Washington to Bejing to Paris, leaders are asking a defining question of our times: Are China and the United States more likely to cooperate or to become serious rivals?

A lot hangs in the balance – including the ability to deal with global financial crises; America’s massive debt; global energy security; climate change; nuclear proliferation and rogue countries, such as North Korea.

Relations depend largely on how Washington and Beijing read and manage China’s rising status and oil interests.