So we didn’t really need to borrow money from China after all?
America needs to borrow money only because of colossal domestic spending.
China (and others) have been there to buy American debt.
But the US is the one selling debt - no-one is forcing Obama to bail out the banks and unions (and General Electric, and Fannie Mae, etc)
Do not fall into the error of blaming other countries for buying American debt. If America doesn’t want foreigners to buy its debt, then the solution is simple. Don’t sell it.