In fact, the Mary Kay Foundation found that the economy has led to a huge increase in demand for domestic violence services for the fourth year in a row.

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"It's almost impossible for China to engineer enough of an increase in domestic consumption to make up for the contraction in demand that we're seeing in Europe and the United States, " said Michael Pettis, who teaches economics at Peking University.

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And very importantly, for a number of countries in Asia, it means that domestic consumer demand and imports will increase.

WHITEHOUSE: THE WHITE HOUSE

China is in the stage of its economic development where it needs, and wants, to increase domestic demand for its products, and move away from dependence on exports.

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Stronger currencies would also shift growth from exports to domestic demand and increase households' real spending power and help ward off protectionists in the West.

ECONOMIST: Asia