” Folks in power over there are obsessed with truly gargantuan grandstanding on the world stage. [....] pushed it too far and invited ugly implosion. “
Question:
What happens to our country (economically/socially) if/when our essentially sole-source of consumer goods implodes?
Schadenfreude is all well-and-good, but toppling giants cause big ripples.... ;~)
(1) Trying to bail out China would cost huge amount of money and resource,
(2) China won’t be all that grateful for consideration U.S. has showed. It will go back to the quest of undisputed lone superpower as soon as it has recovered. The fact that Chinese regime’s origin as totalitarian communist country would exacerbate this problem.
(3) Unscrupulous dealing with China raised the stake of weaning out of dependence on China. However, things will get worse if we try to do it later.
(4) On the other hand, Chinese economy is bound to crash when U.S. goes down. No deliberate action is required. The economic reality will take care of it. This is what I suspected could happen about a decade(or longer?) ago. I did not want the dependence to last that long. However, that is what would be happening in all likelihood.
Both China and U.S. will pay for their misguided policies in last 15 years. Elites in each country mutually enabled and abetted each other. Now we are reaping the "well-earned" reward.
No pain, no gain.
Personally, I have a sufficient supply of cheap Chinese made junk to last me for a while.
Unlike oil or food, where a supply interruption is instantly felt, an implosion in China will not be badly felt before other suppliers have had a chance to ramp up