The thing about an EMP bomb is that it's not just a device that generates a big ol' pulse, it's a warhead that happens to put out more of a pulse than normal. So while having all the soft electronics go crunch would be bad, you'd still have all the carnage from the blast to deal with, and as the boys at FARK might say, "Slaughter ensues."

I'm not so worried about the Chinese trying to fight an economic war against us. Who's going to buy all their crap if we don't? Besides, since they hold a lot of our notes, it's not to their advantage to cripple our economy so we can't pay off. It's an international version of the old saying that if you owe the bank a few thousand, you've got a problem, but if you owe the bank a few million, they're the ones with the problem.