Monday’s a good day for a wake-up call, and Niall Ferguson and Moritz Schularik are dialing America’s leaders today in the New York Times.  They address the economy of “Chimerica” as President Obama begins his trip to China and note that in our two nation’s co-dependent economic relationship, China is getting the better end of the deal.  It turns out that by pegging the Chinese renminbi to the dollar, “the Chinese get 10 percent growth [and] America gets 10 percent unemployment.”  In essence, America borrows money instead of generating it with manufacturing and more competitive exports.  And in doing so we lose more and more of the jobs that provide for stable families and communities.  So it may be time to choose independence over co-dependence.

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