Bloomberg New Economy: The Chimera that Was ‘Chimerica’

As two U.S. aircraft carrier strike groups conducted round-the-clock exercises in the South China Sea this week, parallel to Chinese military drills elsewhere in the waterway, U.S. Treasury Department officials were putting in place sanctions against a ranking Chinese official over human rights abuses in Xinjiang.

U.S.-China relations are rapidly falling apart. It’s gotten so bad that Chinese officials now talk openly about a complete rupture that could leave China outside the U.S. dollar payment system.