Great. We’re still borrowing money from China to buy stuff made there. They get our money once when we buy their goods, and again when we pay the bonds back.
This is one of the curious consequences of a massive trade deficit between two countries. One country (China) may sell a lot of products to the other (USA), but we aren't bartering for those products. They get paid in U.S. dollars, and they can't eat them so they have to figure out what to do with them.
Another false argument. We sell treasuries to whoever will buy them in order to support the government's deficit spending - mostly spent on "entitlements", defense, and infra-structure here in the US. The fact that China buys US treasuries, has absolutely nothing to do with Chinese products being sold in Walmart and Target.