China

[mudmanc4]

updated 4:45 p.m. ET, Wed., Aug. 6, 2008

BEIJING - Changshu Zhongjiang Import-Export Co., a clothing exporter in Suzhou, west of Shanghai, is accustomed to double-digit annual revenue growth. This year, with its key U.S. export market limping, sales have fallen an alarming 10 percent.

Changshu, with 580 employees, has avoided layoffs but profits will be down as much as 85 percent from their 2005 peak, said Xue Jianfang, the company's vice president.

"We are not going to switch to domestic sales, because the domestic market is even worse," Xue said. "There are still some profits in this industry, but they are squeezed."

China's booming economy, a bright spot amid global gloom, is weakening in areas ranging from clothing exports to auto sales to manufacturing. Communist leaders who have spent a year fighting politically dangerous inflation are scrambling to change course and avert job losses by revving up struggling industries.

<a href=http://www.msnbc.msn.com/id/26059741/>link</a>

It is only inevitable that the economies that have weened off tUS economy will slow as well. It seems to me, that I remember hearing  President Clinton, ( and we all know what Al Gore's agenda is about ) say something about slowing the US economy , in order to control global warming, could this be the two are related? Both people are involved deeply with the wealthy corporate globalists who have created for themselves a corporate club sanctioned by the president called the North American Competitiveness Council (NACC) whose charter members are:  Campbell Soup - Chevron - Ford - FedEx - GE - General Motors - Kansas City Southern (rail) - Merck - Mittal Steel - NY Life - Procter & Gamble - UPS - Wal-Mart - Whirlpool along with the Carnegie, Ford, and Rockefeller foundations, all of which are working in concert with those in positions of power in our courts, military, and government.