Yeah, that's one of gloomiest aspects of globalization. Even China is not an island likely to be largely unaffected by worldwide meltdown it used to be only a decade ago...

But current administration does not heed any warning if it clashes with extremely short term interests of their corporate puppeteers, be it about dangers of enourmous budget deficit, imminent terrorist attack or abrupt climate change (about Pentagon's warnings on the later see news, eg. in Fortune or more complete in Guardian, or the full report.)