It's a big if. There are certainly quality products coming out of China, but most are not. If they want to mirror what Japan did in the late 70s and 80s they'll have to get the quality and innovation up, which is something they've struggled with. IMO, they'll continue to struggle with that, but that doesn't mean Europe won't be wowed by the low priced, decent-enough quality for a few years, just as the US was.