Will be sudden. The US and other countries have borrowed from China, so much it is now having to borrow. So its credit rating has been downgraded from Aa3 to A1.
Its inflation is spiking:
China's consumer prices rose 1.2 percent year-on-year in April of 2017, following a 0.9 percent rise in March and slightly above market consensus of a 1.1 percent gain. It was the highest inflation rate since January, as cost of non-food rose at a faster pace and cost of food fell less than in a month earlier.
In April, the politically sensitive food prices declined by 3.5 percent (from -4.4 percent in the prior month) while non-food cost rose 2.4 percent (from 2.3 percent). Cost of consumer goods went up 0.2 percent (from - 0.1 percent) and those of services increased by 2.9 percent (from 2.7 percent).
Among food, prices rose markedly for fresh fruits (5.9 percent from 3.0 percent). In contrast, prices fell for: pork (-8.1 percent from -3.2 percent from -0.9 percent), fresh vegetables (-21.6 percent from -27.9 percent), eggs (-11.4 percent from -11.8 percent) and tobacco (-0.2 percent from -0.2 percent). Prices were unchanged for milk (from -0.2 percent).
China is used to an inflation rate of 2%. Suddenly interest rates are going to be 12%, rather than 2%. And 80% of Chinese businesses will go broke.
This will cause riots and famine – and all societies are 3 good meals from revolution.