The Chinese have to buy it. They run a surplus with us, the surplus being US dollars. Therefore those dollars have to come back to the US in some form since they are worthless in China. The Chinese can take those dollars to buy US real estate, products, services, companies or debt.
They are also using US dollars to buy gold.
Immense amounts of gold.
Right, and they are blocked from most significant U.S. investments. Just some smallish corporate takeovers and a lot of residential housing in California. China would never be allowed to take over a Boeing, for instance, even though they could easily afford it.
So with their dollars they can buy land in Africa or bonds.
China looks very unstable internally now anyway.