America is overfed and in need of some sliming exercises.
The trade imbalnces need to be resolved pretty quickly. China can not go on expecting a trade surplus of $400-500 billion each year. The export growth models of Japan, China, India, Korea etc are simply not sustainable, especially as they are based on currency manipulation.
There will be some pain all round in resolving this issue.
Australia will do OK, because countries in Asia need us as a cheap quarry.
