I agree on the matter of Chinese-made goods. From my interactions with Chinese expats, it appears there are two tiers of Chinese goods - the cheap crap sold for decades to foreign companies, and the decent and still affordable stuff meant for local use, which is now expanding abroad. So in that regard, the manufactured goods markets in its major trading partners wouldn't be severely affected. And vice versa, the growing economies of both China and India will be more than happy to welcome the excess Russian gas if the import restrictions of the EU become permanent. And the overall global economy seems to hold up for another day... for now.