[hackits]

They hold the largest reserve of USA dollars.

[ac29]

That's a myth. Most US debt is held by the US public - all foreign holders combined are less than 50%. China is the largest foreign holder, but only holds about 5% of US debt.

https://en.wikipedia.org/wiki/National_debt_of_the_United_St...

[indemnity]

Yeah, it’s not a huge percentage of US total debt, so the “China owns the US” hyperbole is a bit overblown.

[msla]

> so the “China owns the US” hyperbole is a bit overblown.

It is, however, a useful lie to spread for political reasons.

[baybal2]

But even if that 5% will be dumped onto markets, the US rate will have to possibly double