China will always buy our debt as long as they want to be a net exporter to the US. There is no other way..... They deliver ships full of crap to us. We credit their account at the Fed with extra zeros. They turn around and buy treasuries. Can someone else tell me what they could possibly do with all the dollars that we send them (actually zeros credited to their account. The answer is nothing really. They could buy things such as natural resources or other imported goods from other countries. In that scenario, they use US Dollars for that transaction. Ultimately, all of those dollars have to end up back here in the US through treasuries or asset purchases from the US denominated in dollars. That is the beauty of having the reserve currency.