I don't agree with this one part of the explanation. A famous saying goes, "If you owe your local bank $7,000 and you can't pay it back, you have a problem. If you owe the bank $7 million and you can't pay it back, the bank has a problem."
I'd say China has a problem. I think 0bummer's actions over this are the triumph of his reflexive Stalinism over his electoral wisdom. (But why should we expect him to be able to anticipate the reactions of Americans, who are a foreign people to him?) I'll bet he and his peeps are furious at the Chinese for being ungrateful for their handing the guy back to his torturers.
As others have noted, the African Queen is pulling the same move Clinton did. I'm reminded of the fact that it cost Al Gore Florida and the election in 2000.
I don’t disagree with your contention that China has the problem.
I strongly suspect that the US will default on their debt (or “refinance” more favorable terms) once the election is over. But, Bambi doesn’t want to announce that before November because it would crash the economy and he’d lose the election...
This whole situation is very awkward because it is forcing the Administration to actually take a position and that’s not something that they like to do. Of course, the LSM will cover for him so it probably won’t matter anyway!