VOA标准英语2012--Amid Economic Gains New Trouble on Horizon

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"Actually, it is a very good headline for the economy," said Bloomberg TV's Susanne O'Halloran. "It shows that consumers are more comfortable spending. What was also interesting, as well, was [that] the January number was revised a little bit higher."

The steady recovery in the U.S. job market and a second bailout for Greece also helped to lift investor³ confidence, pushing stock prices higher on Wall Street for the fifth day in a row.

But even as fears of a Greek default fade into the background, German market analyst⁴ Robert Halver says investors⁵ are already looking ahead to the next potential worry for the eurozone. 

"We've got a new problem child in Euro-land: Spain. Spain should do its homework, especially economic reforms," he said. "Spain has to deregulate its absolutely inflexible⁶ job market."

Spain missed its deficit⁷ target last year and is unlikely to reach it again this year. And with an economy four times bigger than Greece, experts say a potential bailout is not in the cards.

For the world's two biggest economies - a new trade war may be brewing⁸.

On Tuesday, President Obama said the U.S. has joined the European Union and Japan to challenge China's export restrictions⁹ on rare earth minerals that are crucial in the production of electronic devices.

"So our administration will bring this case against China today [Tuesday]," said President Obama. "We will keep working every single day to give American workers, and American businesses, a fair shot in the global economy."

Meanwhile, Beijing continues to wrestle¹⁰ with the effects of a cooling economy.

China recently posted its biggest trade deficit in 10 years, prompting its central bank to relax monetary¹¹ policy and slow the appreciation¹² of China's currency. The yuan has risen 30 percent against the U.S. dollar since 2005, but the United States believes the yuan remains¹³ undervalued - giving China a competitive edge in export prices. 

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