Yeah, that's the jersey for the 2010 FIBA Worlds. I have the same one.
I have another Lebron in obsidian which I think is the 2008 Olympics jersey - it looks very similar but on this one the graphic does go all the way down.

On the front, the 2008 jersey has the American flag while the 2010 has the USA Basketball logo (I think that's the same on both home and away versions). So, yeah... that's all how it's supposed to be.

They also made the 2010 jersey in similar styles for other teams. I actually just received the blue Tony Parker France jersey - the pattern of the graphic looks more generic:

I also have both pairs of shorts so now I finally have the whole set
TK Maxx (not a typo - that's what they call themselves in Europe for some reason

) had all this stuff for cheap over a year ago.