As long as China has such a prime interest in buying our debt we'll be fine. China can royally fuck up our economy whenever they want to. I think they're using that as a safety net in case shit ever hits the fan, but on the plus side it does mean that we as individual people don't have a whole lot to worry about for now.

Though the US gov't needs to stop giving corporate bailouts. Unfortunately, the alternative to continuously giving corporate bailout is a recession, which is something that no one wants.

It is a pickle and proposing a solution of my own is beyond my current level of economic understanding