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No sympathy for the ChiComs...

They have benefited so much from the bad Free Trade deals...the US has shipped millions of good jobs and wealth to Communist China...and stuck the US with trillions in trade deficits.

China decides to buy our debt...and, by golly, the US may not be able to pay up.

This situation is nothing more than the US running a massive debt, first by shipping jobs to Communist China....then owing trillions to Communist China as they bought US treasuries.

The ChiComs are like the credit card issuer...and the US can’t make the payment.

Which as much means supporters of Free Trade are pretty much fools and idiots. Free Traders were the same ones who claimed “trade deficits are good”. Yeah, right

I am sure we will now hear some moronic solliquy on how Smoot-Hawley caused the Great Depression...blah blah blah.

We know now, that Free Trade had a major impact in this economic downturn...and no Free Trader parsing bad economic theory is going to change that fact.

Next: I predict Communist China starts practicing more “Protectionism”

I agree with your analysis. Only thing with your last paragraph is there are not enough Chinese with real buying power country wise for them to build a solid economy for their own country. The US took how long since before the Civil War upward to build a manufacturing, research/development, financial system that could keep America on the top and sell to the rest of the world as well.
As the Chinese companies continue to close down, and the folks move back to their little farms etc., they move backward in time. They need the rest of the world to sell their junk, or they go under.

If you think this is the result of Free trade you are sadly mistaken. If you think tariffs are the answer to such problems you probably believe taxing can cause prosperity.

Free trade is only important to those who want the consumer to achieve his maximum benifit for his money.

China profitted from US labor becoming too expensive to compete in many areas and because it industries do not have to face the stringent environmental standards US industry does.