China's factories are closing

Unemployment is becoming a Chinese issue

During the McCain presidential campaign we've heard about all the money that the Middle-East is hoarding due to America's oil dependence and how the US owes the China trillions of dollars.

That's one side of the story and both those countries are in the black, rather than the red. But it's not all rosy. In China, where I never really thought people would ever be unemployed, the US-based, but global recession is starting to bite.