Josh Haner/The New York Times Thomas L. Friedman

While U.S.-Iran relations are taking up all the oxygen in the room these days, and they’re vitally important for the future of the Middle East, U.S.-China relations are vitally important for the world — and there’s more going on there than meets the eye. The concept of “one country, two systems” was invented to describe the relationship between Hong Kong and mainland China. But here’s the truth: The American and Chinese economies and futures today are now totally intertwined, so much so that they are the real “one country-two systems” to watch. And after recently being in China to attend the big Boao Forum on Hainin Island, and hearing President Xi Jinping speak, what is striking is how much each side in this relationship currently seems to be asking the other, “What’s up with you?”