Here's the thing, it seems to me Obama is a guy who thinks long term. He'll try to ship job back to the US and try to erect trade protections, since he doesn't want to be dictated by foreign governments with their sovereign wealth funds.
But on the other hand, the US still needs foreign countries to buy the treasuries. Plus, China is also slowing down because the US is slowing down.
China fears job riots
It looks like an even bigger economic disaster is unraveling.