What would this do to the U.S.?
It might slow down our economy since we have become so dependent on trade with China. Similar to how the financial crisis in the U.S. in late 2008 hurt almost all worldwide economies.
No, trade with China is just a negative for US GDP, incomes, etc. If China 'collapses', it doesn't mean we can't still buy cheap junk from them from Walmart, and since we don't export much to them anyway, there's little negative effect trade-wise.
There might be some minor negative in terms of investment losses, and GM couldn't sell as many Buicks there, but overall it wouldn't be much of a negative for the US economy (much like Asian economic crisis of 1997 didn't end up having any negative effect in the US).
