China's Economic Slowdown

China's industrsy has finally taken a big hit while there has been a global economic slowdown. China's industrial growth kept on getting bigger and bigger, until just recently when the companies were forced to lower production. The New York Times reports that one of the main reasons China's having this issues is "The American recession is one big reason China’s epic economic growth is imperiled: as Americans buy less, China sells less." With America being one of the largest consumers of China's material, when they spend less China makes less. Some of the biggest projects in China, are slowly coming to a complete stop because of lack of funding. China reports that the laying off of workers in now in their immediate future. The government is trying to step in and prevent this economic slowdown by passing a 586 billion dollar stimulus package, but the effects of this package have yet to be seen.