Is China's economy in trouble? - The Economic Times: What's more, there are further signs of trade hostilities from Washington, where the impulse is to blame China's cheap exports, at least partly, for the U.S.' continued high unemployment. On Thursday, a bipartisan group of senators announced that they would pursue legislation requiring the Obama administration to confront China more directly on currency policy. They want the White House to push harder for China to allow its currency, the renminbi, to appreciate.
If China does allow its currency to rise more quickly and if its trade surplus narrows, that could help economies elsewhere. But too much of a slowdown in China could simply add to the world's financial gloom.
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