And machinery, capital goods, cars etc, etc. Add in India, and Brazil for good measure.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

Were it a fact or perceived to be a fact that China was out of business as a global trade player that would be stimulative to world manufacturing as a whole, as a good amount of manufacturing capacity would have to be created in other countries. I believe China exports well more of its production than it consumes. Given the raw material stockpiling that China appears to have undertaken a drop in commodity prices, ex energy, would not seem unlikely unless China continues to boom. I don't know how these two factors would balance out, but they should offset one another.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."