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The CBS Eye in the World, I'm John Batchett.

The American Economy.

In Lancaster County, the American economy in Litchfield and Fairfield County, Connecticut.

The American economy in China, I welcome Jim McTague, long-time Washington editor of

Barons.

Jim, China is going through a bad patch, it might last quite some time.

It's recognizable as a recession, though the Chinese Communist Party doesn't like that

word, so I'll just say slow down.

However, at the same time, I puzzle, does it connect to the U.S. market?

We still buy a great amount of China's exports.

We buy them.

It's no longer satisfying to China because it's got death problems, it's got real-estate

problems.

And there's talk of us moving our supply chain to Indonesia, to Vietnam, to Bangladesh.

Do you see that yet, the supply chain making adjustments?

And is it in the stores?

Good evening, Jim.

Oh, good evening, John.

Yeah, the supply chain is moving away from mainland China, primarily with unsophisticated

goods like clothing.

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