This is very dire news regarding the American economy. China's economy will overtake ours by 2016, and while theirs is growing, ours is not.
We have traded jobs for profits for too long in the US. The jobs have moved from the US, mostly to China, and this is a huge reason that our Upper and Middle Classes are so far apart, and moving further apart. The Middle Class is eroding, shrinking, while the lower classes continue to eat away at the ecomnomy by gobbling up government handouts, until soon there will be no money for the entitlement programs.
In truth, there already isn't, but the Government continues to use creative accounting tactics, the mainstream media, and outright lies to keep the masses in check.
Soon, even that won't be enough.