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Devaluation in China Leads to Jitters in US, Global Economy

For the third day in a row, China devalued its currency. This comes as that country's economy appears headed toward recession. That devaluation led to jitters in financial markets around the globe.

Since Monday, the Dow Jones alone has fallen 500 points. And as one example of how much concern the health of the Chinese economy might impact U.S. recovery, take a look at this editorial cartoon by the Chicago Tribune's Scott Stantis. It shows an enormous dragon falling belly up on a teetering Uncle Sam who's just gotten out of his wheel chair.

Joining Chicago Tonight for a discussion on the economy are Michael Miller, associate professor at the Driehaus College of Buisiness at DePaul University; and Edward Stuart, professor emeritus of economics at Northeastern Illinois University.