They are as vulnerable as U.S. So is China. We have sad spectacle in all three regions where so-called experts, politicians, and many ordinary people are in denial. Euros think they are less vulnerable and avoid the wort effect. China think they can deflect the crisis and prosper. U.S. thinks that they can solve this problem by printing money indefinitely.
The resolution of this crisis can only start when all three finally give up their denial. Then there will be major political fallouts, causing social unrest and international conflict.
The crisis is still at opening stage.
Hey, not to worry - our government will save us (okay enough of that stupid gibberish).
Yes, unfortunately, the Euro will probably go first - heavy decline, followed by the US dollar going up (some safe haven I’d say - ha). Of course that means that our exports will be too expensive which will only increase our trade deficit. China (which already has monetary problems) will have to finally increase the value of their currency. That in turn will cause higher prices of many goods that the US buys, which will cause high inflation...etc... It just goes downhill from there...
In short, world chaos...