We owe trillions to China. We can’t write that off.
You are correct. China and other Pacific rim countries are precisely the ones who purchase (invest in) our T-bills on the open market. Keepinhg the kabuki theatre going. These "investors" own our debt. They own us. It's going to take a major world war--or worse--to eliminate the U.S. debt. In the past, wars have been used for just this purpose.