U.S. Trade Deficit Shakes Consumer Confidence

As the U.S. and European economies destabilize under the pressure of debt, the global economy is leaning heavily on China. "Consumers -- historically and especially during times of economic decline -- value price over quality," says Karen Hogan, Ph.D., professor of finance at Saint Joseph's University in Philadelphia. "China offers the U.S. and European economies cheap labor and affordable imports; we're hooked on it."

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