iamtheoricale
I followed your thoughts and concur except for one big departure.
Your major assumption is that the US is the only major consumer of Chinese goods. For the moment that is true, but not for long.
I suspect there will be a major change in the distribution of living standards across the world. As the US declines as a major consumer, others will take their place. India and China iteslf immediately come to mind. I also wonder too about some south american countries (Argentina and Brazil) and Russia.
In the short term there will be a deficiet in the consuption of Cohinese goods, but medium to long term China will adjust by finding/ creating new markets. These currency trading deals between China and Brazil/ Argentina give insight to hte future imo.
GC
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