What a joke.

[Recked]

that quote from that war a little while back, some chinese (maybe japanese, cant remember) chap said yeah we won the battle, but wev woken the sleeping dragon/giant/beast/awesome-thing-of-horrible-power... well they were referring to the US. which turned out to be prophecy, well the tables have turned, china is in control at the moment, no1 can demand anything from them. Just as an example i think they have 80% of all the cranes in the world in china atm. Growth anyone?

[rhonnin]

The "debt" is in the form of us treasury bonds that China purchased, anyone, in any country, can purchase bonds so you too could have the U.S. in debt to you if you wanted to lay down 50.00 for a bond.
I've never understood why people say we would be in deep shit if China ever demanded repayment on the bonds, my understanding is that bonds are repayable after a certain date and not whenever the purchaser pleases (aside from cashing them in early at a penalty).