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What the US economy really needs next
When Chinese stocks took a nosedive last week, it rang economic alarm bells around the world, including in the US. But the threat to Americans' prosperity is less than you might think, says Chris Low, chief economist at broker dealer, FTN Financial, in New York. The dreaded R-word, recession, has popped up on financial blogs and magazine headlines. Bloomberg BusinessWeek asked if the next recession will be made in China, while The Economist documented 'The Great Fall of China'. The stock market is a pretty reliable economic barometer, after all. People thought it must be tanking for a reason. But the rally in stocks ... (full story)