However the election is a good time to bury bad news.
The bigger issue is Bernanke. He or his masters announced $600bn more of QE, quantitive easing. Which is a euphamism for printing money. You know Zimbabwe style. If you haven't noticed Zimbabwe printed money and they are totally fucked. Oh and everything in Zimbabwe is now stamped property of China....
So how has this got anything to do with China? Well China holds $853bn US or there abouts.... or claims to hold 800bnish of US dollars. So while their dollars don't decrease the purchasing power of their dollars is going to decrease a fair bit. The first time this happened I was in Zhuhai and there were lots of people complaining in to those phone in radio shows. It was mostly about how China gifted the US a shed load of Aircraft carriers because of the devaluation. The Ford class carriers are supposed to cost $15bn dollars btw. Japan and Russia hold a shed load of US$ too which pisses them off no end too, when in Siberia Russians would curiously ask for US$ then Euro first then grudgingly accept Roubles.
Tbh it can only end in tears printing more and more money unless the US pulls a fast one with New American dollars whereby only Americans in the continental US can exchange them leaving China holding the bag.
Which is dangerous because many such paths lead to war..... although a great amount of firepower exists in the US currently does it mean anything anymore? For instance the IDF vs the anti tank missile a comparatively cheapo missile taking out a very expensive tank.
Ot the 2002 Milenium challenge war games incident here