U.S.-China relations

The seemingly symbiotic relationship between the China and America -- dubbed Chimerica -- is now clearly chimerical. What was once billed as the ideal partnership is quickly turning into a competition for global influence. Investors, beware.

A China expert explains that overtaking Japan doesn't alter the underlying economic issues China must resolve, but it does cement changes that have been rapidly making China a far more important player on the global stage.

China's global trade surplus ballooned to $28.7 billion in July, a sign that promises to adjust its currency haven't yet begun to bite. That could spell increasing friction with Washington.

Based on his long experience as a Western entrepreneur in China, Perkowski has compiled five top keys to success for American companies that want to business there (looks like Google missed No. 5). Here they are...