That won't work... that will crash the price of [new] bonds, and more capitalized nations will buy the dip. You are operating under an assumption that the humans controlling a quantity of wealth enough to [quote] "crash the bonds market" make decisions based on principles. They don't - and if you compare history with a long term bond price chart then it will become apparent.
Now, pray tell, which other nations are more capitalized than the world's third largest economy? Who would buy the dip? China? I doubt it. And nobody else has the scale.