I certainly do not wish for a US recession.  As you point out PM, our economy is woven with the US and although I do not agree with the 80% number for the whole of Canada, it is none the less very high.  The US economy is of course the strongest economy of the world but it is relatively weaker compared to what it used to be.  Other markets our growing dramatically  vis a vis the US.  The level of debt per capita in the US is highest of the world (included in here is Federal, state, municipal and personal debts) The infrastructure cost for the war on terrorism is putting strain on the economy as well.  those cheap products coming out of China as you point out are still very important to consumers and if the US had to start making those articles,  US consumers could not afford them.  I could go on but I will not convince either of you.  Only time will tell.  I only hope I am wrong for everyone's sake.

Glorieux