Here, I would have to pose a different sort of question to you all, in regards to China; We all assume that China wants a large, Western-style economy just because...they like the toys, or whatever. But suppose that they are willing to go back to the privations' of life as they knew it after the revolution, and what they lived like right up until the '70's...If it meant the destruction of the U.S. economy, and the way we live? What we see of China, is usually their bigger cities. They spiffed up Beijing as much as they could for the Olympics, but it was still dirty. A large part of rural China lives without power, running water, etc. much like they did before the revolution. If China's leaders are willing to permit that, I don't doubt that they would subject their population to any kind of retrograde move in lifestyle if it meant crippling us economically.
The potential for it is there, if you look at the way they treated Olympic protesters...China's still as ruthless as it was in '89 in Tianemen square.