Wow good article. If what it says is true, then my whole conception of what I thought of economics will change. The counter argument though is that what worked in the 1980s, increased leverage, cannot work anymore. At some point, interest payments will become too great. We simply need to deleverage before we can use the magic pill of debt to cure a future recession.
article is extrapolation nonsense. today america sneezes china get a cold. china will adjust. in 20 years america will be too poor to buy Chinese products. Japanese and german products are practically unavailable in the states.