China holds plain-vanilla U.S. Treasury bonds. Those are bearer and fungible, i.e. the U.S. can't selectively default against a holder they don't like, not without reneging on their whole debt.
China holds plain-vanilla U.S. Treasury bonds. Those are bearer and fungible, i.e. the U.S. can't selectively default against a holder they don't like, not without reneging on their whole debt.