China owns bonds, (pieces of paper) they don't really own anything. They hand us money for these bonds because they are the most stable investment there is.
You people need to rethink China owns us or US of China. We default, and don't pay. They own nothing, just like in the stock market, you own apple shares, apple goes under, You lost money, I don't get to go through back stock in a warehouse and start taking computers home.
The ramifications are we default and they no longer buy bonds, then we are fucked.
SMH