Even if you believe that China's output is now approaching parity with the US ... is it not reasonable to ask at what point they're going to start buying some of our stuff in return?
They have bought 20% of the US Debt...
Edit: 20% of the US debt owned by foreign countries
That's incorrect. They hold 20% of US Debt held by foreign countries. In the total scheme of things I think it amounts to somewhere between 6-9% of the total US debt.
The Fed may have surpassed China as the largest buyer of debt, but it may not be the largest holder. Where do you think all the money in the Social Security trust fund went, eh?
Hint: It's somewhere in the blue part of the pie ;-)
They have bought 20% of the US Debt...
Edit: 20% of the US debt owned by foreign countries