The Communist Chinese government seems to have gotten access to too many computers and too many leaders or their families in the past few administrations. It doesn't make sense that we are so gung-ho on building up their economy at the expense of the American people.
People get upset -- at authority, fomenting rebellion -- when currency is radically devalued, but not so when RE is devalued, or stocks.
Maybe the best thing would be to herd all that foreign debt holdings into corporation stocks and bonds and real estate, thereby being able to deflate it. Therefore I believe I must become a stock market cheerleader. Maybe, in my dreams.