Everyone's been hit by the economic slump recently, the main problem is NICs (Newly Industrialized Countries) like China, Mexico and Brazil offering cheaper labour and reduced costs of finished goods so companies in more economically developed countries are forced to move elsewhere or fail.
The weak dollar has actually benefited America in all this as it makes their produce cheaper and more competitive abroad and makes imports from other countries more expensive in the USA, which benefits their current account deficit (it's still huge though).
I had an economics exam this morning about all this stuff
