Inflation: China's Latest Export

This is from an article in the NY Times regarding a growing inflation issue between the United States and China. Due to various factors- increased energy and material costs, a falling dollar, new business rules, and new environmental requirements- the cost of Chinese exports are increasing for America. They estimate that prices could increase by 10% this year on consumer goods such as toys, clothing, and footwear, which constitues 80, 40, and 85% respectively of American spending for those categories. This is a bad time for this increase in prices since America may be facing a recession. This is especially a bad time for me since I need some new Uggs, and unfortunately they are made in China ;)