Unless we hit it first and drag them in with us.
China owns a lot of our debt.
There is so much debt in the world today held by all of the industrialized nations. It is only a matter of time before one fails and starts a cascade of failures.
At this point, a debt deflation would ultimately be a major boon to the US. Cost of raw materials, food, and rents would come crashing down. Incomes would be less, but money would go a lot further and we could re-direct those raw materials back into our own industries assuming Trump can get the economy primed for it again. We can beat China with high tech factories and our greater resource might if we can get business conditions and infrastructure straightened out.
Under the Clinton, Bush, and Obama years US industry was going the way of Russia with deindustrialization.
“China owns a lot of our debt.”
Really? What percentage do they own?