U.S. ambassador to China stresses importance of managing competition

News Snapshot:

Rivalry and mistrust between the U.S. and China have shaken the confidence of the business world and pushed the relationship between the two countries to its lowest point in decades. But walking away from the deep economic ties that have been forged in the past decades is simply not an option, the U.S. ambassador to China, Nicholas Burns, told "60 Minutes." The relationship with China is the most important, most competitive and most dangerous the U.S. has in the world, Burns said – and he believes that's not changing anytime soon. "Some people are saying, 'Well, we're so competitive with...