Reply #61: it would be worldwide deflation

[NewJeffCT]

If the poople in the US can't afford to buy $2,000 TVs, who is going to buy them? Will the price go down to $200 so people in China can buy them, too? That certainly means less profit for Mitsubishi or Sony or whoever makes your big screen TV.

The same with cars. Who is going to buy those cars from Toyota? Right now, a car in China costs a good twice what it costs in the US, if not more. If I wanted to buy a $20,000 Toyota Corolla here in the US, that same car would be $40,000 in China, if not more.

The same with refrigerators, stereo equipment, air conditioners, etc, etc.