A good analysis ! An underlying issue is that US consumers can only afford all these cheap imported goods because the dollar is currently the global reserve currency.
It allows the US government (via delegating to a private company, the Federal Reserve) to print as much money as it wants. So the difference between revenue from oil, LPG and weapons and consumer spending is covered by money produced out of thin air. The price paid is ever-increasing levels of sovereign debt, and one day that'll come home to roost in a big way.