American stock market failing once again

Yesterday China's stock market plummeted. Because we are so dependent on China, our stocks are plummeting today. http://i3.kym-cdn.com/entries/icons/original/000/014/009/michael.jpg We basically lost all of economic gains we got for the year. Man, it sucks to be our generation in the U.S. We are not going to get a retirement fund :(

That is the downside of the global economy, all the top countries are dependent on each other. To be honest though this has been coming for a long time as China has been artificially maintaining the value of its currency to uphold its growth. On the plus side since the crash in 2007 most of the financial institutions have put in place stricter controls so its will not be as bad.

The United States isn't the only country to take a hit. China's devaluation of their national currency fucks with quite a bit of the world. South Korea seemingly the most. I was planning a trip for the end of the year, but I cancelled a few months ago, and I'm glad I did. The country that China imports the most stuff from is South Korea. Electronics and medical supplies. South Korea might fall into hard times with the economic hit from China, tensions with North Korea and them seeming declaring a state of war with South Korea (which was actually resolved a few hours ago, but who knows for how long), and that MERS outbreak a while ago completely crippling their tourism. but yeah, China is basically attached to the hip with a lot of places in the world. List of of their top imports http://puu.sh/jNhvc/341e1c6606.jpg

That's interesting, I didn't know the U.S. was among the top 3. I guess the U.K. is a lot more financially dependent. South Korea is certainly in no position to go to war if they get so hard by an economic slump as well. I think both sides backed down ultimately because war would just cost them way too much. The only upside about our large interdependence on other countries is that another world war is highly unlikely to ever happen because it would bleed billions of dollars everywhere. Clearly though we are importing too much without a solid way to pay for it, and it's our generation that will eventually have to foot the bill.