CChaos said:
I'd say your 'as much' would be probably be pretty accurate. Problem is, if China crashes and burns, the States either takes the punches or goes down hard as well. This whole thing is like trying to tiptoe across a floor of rat traps. China owns over a trillion dollars in the USA's foreign debt and are buying it up at massive amounts, helping to keep the States solvent (among other things), thus enabling it so Americans can continue to buy more of the stuff they produce, etc. Nasty circle. The two are so intertwined that this is why you'll never see a war between the US and China. Neither side could afford it. |
The difference between the USA and China is that the USA has much, much, larger capital stock. No matter what happens, the USA will still have the most educated work force in the world, the most advanced machinery, etc., etc.
The problem with China is that it's facing these problems and its capital stock is so much lower. A financial meltdown won't cause the factories to disappear into thin air, but it will stop any new ones from being built.
This is why I said "if not more".
