It’s basically inevitable.
China owns our trillions in debt. The only way to keep them from owning the US is to dilute the debt by printing, printing, printing. Either way, we got screwed by our ‘representatives’ in DC. The first nails were hammered by Bush and Obama with the stimulus and bailout bills, and it was finished by Trump and especially Biden with the covid stimulus/bailout money-for-nothing spending.
Bush II basically had a balanced budget before he left office.
If history is any guide we will just default on debt held by foreigners.
A good example of that is Argentina.
What they have done (more than once!) is to extend the maturity date to some ridiculous future time and refuse to pay the interest.
Nobody invaded them over it.
;-)
“China owns our trillions in debt”
Actually, as of Dec. 2023 China held $770 billion of our $34 trillion federal debt. Japan was the largest US debt holder at $1.1 trillion. China once held over $1 trillion but has been reducing its holdings of treasury debt.