The USA will find the weapon of IP law etc. it has been building all over the world turned against it.
One would expect China and India to follow USA commercial practice and use the established structures of IP. But USA-IP is not intended to be good economics in the real sense, it is supposed to benefit the USA. When the USA is a net importer, it will be the loser. It will start to disavow international IP.
But IP is fairly dumb in an information economy so it must die out in the not too distant future anyway.
Historically speaking, it is far more likely than in 10-20 years, China will "see the light" and institute much stronger IP laws, once they have more stuff to protect, because your proposal is unstable; if the US starts disrespecting Chinese copyright, the historical outcome is a treaty, not mutual disrespect. If mutual disrespect were the stable outcome, we'd already see that.
One would expect China and India to follow USA commercial practice and use the established structures of IP. But USA-IP is not intended to be good economics in the real sense, it is supposed to benefit the USA. When the USA is a net importer, it will be the loser. It will start to disavow international IP.
But IP is fairly dumb in an information economy so it must die out in the not too distant future anyway.