The economy isn't ready. Basically, all companies right now are sprinting toward increasing profit margins by trying to do more with fewer people. The problem is that, on this scale, they will lose income because unemployed people make terrible consumers, they will only buy what is strictly necessary. Consequently, society is in a race to the bottom, which could lead to extreme suffering and potential revolutions in many countries. Democracies will likely have it easier in general because everyone shares the responsibility, in a sense, through voting. However, the USA, which is extremely polarized—will have a tough time because animosity between the political sides is already at an all-time high, even without an economic collapse. China, on the other hand, will also be in a difficult situation. If the West collapses financially, consumption of Chinese-produced goods will drop drastically. This will create massive unemployment in China, causing public rage to increase. In a non-democratic country, it is much easier for the population to point the blame in a single direction.