Only six months ago the entire investment community was going ga-ga over the fast growing economies known as the BRICs, an acronym Goldman Sachs established in 2001. Brazil, Russia, India and China were the future... but what now? Even China is slowing down and they own a huge portion of US debt. China also makes about everything you buy. Go look at all of your possessions and MADE IN CHINA will be the only thing your plunger has in common with your computer. Remember the China Has All Our Savings article? CHAOS! Hopefully this acronym will become just as widespread. Anyway, this illustrates the fact that the economic health in the United States has global implications. If we struggle, the world struggles. Check out details on China's slowed growth here.
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