What’s well known is that China keeps about two thirds of its enormous monetary reserve in US dollars. What’s less well known is that China’s sovereign wealth fund, organized to diversify China’s portfolio into higher yielding assets, is also heavily invested in the US.In fact, according this Bloomberg report, China currently has 60 percent of its global sovereign investment portfolio in US assets.Interesting, to say the least, that a country widely believed to be in terminal decline, its best days behind it, paralyzed by dysfunction and generally ready for the glue factory remains the obvious investment choice for the country that supposedly will bury it.This fact also points to something that many commentators forget. For all the tension and rivalry in the relationship, the US and China have a great many interests in common. We are joined at the hip.Building and deepening these mutual dependencies is an important element of American foreign policy. We want China so bonded to us and to the international system that it will never do what Stalin, Hitler and Tojo tried and seek its destruction.America’s goal is not to defeat or frustrate China but to entice, inveigle and charm it into becoming a pillar of an international system that supports peace, prosperity and ultimately liberty for all. That goal may not be reached, but we are doing much better at this than most people realize, and these investment figures underscore the degree to which the smart money in China understands that the brightest possible future is one that the US and China build together.