It will force China to devalue the Yuan. If they do it hurts their food and energy imports. It also hurts the de-dollarization trend. If you are settling with China in Yuan, you're about to take a huge haircut and basically tell them we need settlement in USD/Euro/Yen etc.
China already cheats with it's currency to manipulate it's price.
They also do stuff like give huge loans to poor countries,. knowing those countries can never pay it back.
I'm real curious how china is going to keep at this game...
USA and Europe can handle the turbulence.
China on the other hand has had major economic woes in the past several years.
including a real estate pop.
Keep in mind, china is not all big cities with future tech.
Most of china is country side farmers who are too poor to own the latest cell phone.