We are the losers in this "crazy dance," because our wealth is flowing into the Chinese coffers. Pretty soon our consumers will not have the money to buy their goods. This country is headed for a huge fiscal train wreck within a decade. Our entitlement systems are bankrupting us. We are living way beyond our means.
What disgusts me is that we have exported considerable brownness to China. Mines are a particularly bad problem as their effluent poisons the water supplies of poor villages. Where are the kids who in the 60s and 70s sang all kinds of songs about cleaning up the environment? I guess it only counts on this side of the pond?