This is nonsense, at least for now. America is fully 23% of the ENTIRE world GDP and by far the largest consuming nation on the planet. What exactly would China and India do with all they manufacture if not sell it to us and the Europeans? Compared to us, China's GDP is 3.2 trillion and India's about 1.1 trillion. Their combined GDP is LESS then 1/3 of ours, which is almost 14 trillion and when compared to ours AND the EU it is a minuscule 1/10th or less Total world GDP is around 54 Trillion. Of that we are 13.8 trillion and the EU is about 16 trillion. Together that amounts to 60% or so of total world GDP. If both America and the EU nations falter the entire world economy sinks for sure. The fact is since we are the single biggest consumers in the world, if WE slide into recession the rest of the world will follow. It may not always be so in the future but it most assuredly is at this time