Moody's downgrades China, warns of fading financial strength as debt mounts

http://www.reuters.com/article/us-china-economy-rating-idUSKBN18K04Q

This is both a potential bad thing and a potential blessing in disguise. With the world's economies tied together these days, if the world's second largest economy tanks it could certainly take other economies with it. Potentially plunging the world into a recession or depression. This could potentially include our economy. And it could even make things worse for our largest retailers since they are invested so heavily into China. And while their value will deflate their cost of goods will do the same. This could potentially be a good thing. At the same time, China was threatening to become the world's currency. While it was quite a way from becoming this, if this were to ever occur I believe that the U.S. will be toast.