China

It wasn't long ago that many thought India's growth rates could surpass those of its long-time rival, China. But China retains the upper hand in that relationship, thanks in part to its exports.

Wages rose 13 percent for Chinese urban households so far this year and the boost in buying power is good for businesses, including American ones.

Unlike the teams of other countries, the U.S. Olympic team is privately financed, relying on sponsors and contributions. And its clothing sponsor has factories in China.

Economic growth numbers from China did not fail to live up to the hype. China's GDP growth slowed in the latest quarter to to 7.6 percent -- the slowest in three years.

For the past few years, China has had much higher economic growth rates than we're seeing in the U.S. But when China releases its latest GDP figures tomorrow, forecasters are expecting the worst growth in three years.

Meet Zhao Silin: Migrant, factory worker, mother, and owner of a tiny flower shop on Changle Road in Shanghai, otherwise known as The Street of Eternal Happiness.

Corruption watchdog group Transparency International released a report today admonishing big business to do more to crack down on corruption. The report slams companies from China and Russia along with American financial services corporations.

Despite being the biggest country in the world, China is having something of a labor shortage. So it's importing tens of thousands of North Koreans to work in low-wage jobs in factories.

With consumer demand still sluggish in the U.S. and Europe, China is looking elsewhere for new customers to places like Brazil. In fact, this week China and Brazil agreed to a landmark deal that avoids using the U.S. dollar.

Meet Master Chu Hongsheng on the first stop of our year-long series profiling the people who make their living on Changle Road, or the Street of Eternal Happiness, which bisects Shanghai.