I read that China currently holds $1.4 trillion of T-bills.
We haven’t been buying as much Chinese crap as before, so factories there are closing. If we’re not propping up their economy by consuming their products, they won’t have the money to lend us any more. They’ll have to be concerned with caring for their own and stifling civil unrest.
This has got to have China in a catch-22. They have a great interest now in our well-being.