“China has steadily accumulated U.S. Treasury securities over the last few decades. As of October 2021, the Asian nation owns $1.065 trillion, or about 3.68%, of the $28.9 trillion U.S. national debt, which is more than any other foreign country except Japan.”
This discussion reminds me of the old joke:
“When you owe the bank a thousand dollars you have a problem.
When you owe the bank a billion dollars the bank has a problem.”
;-)
That is just their American holdings.