We? As in "We the US Government"? And how is that so much better than owing China?
The US government grows more communist and totalitarian with each passing day.
Just as an FYI, US total debt is about $17 trillion.
China and Japan own about the same amount of that. $1.1 Trillion each.
So China holds about 6.5% of US debt. Ditto Japan. 6.5% is not a foreign master.