Disagree on the US needing China to buy Treasuries.1) China is forced to own US Treasuries because of their large trade surplus with the US. There is no other USD denominated assets they can store their surplus in, unless they want to spend it all in hard assets like gold, bitcoin, etc which has its own huge risks. For the Chinese to threaten not to buy UST would require them to avoid trade surplus which powers their economy curretnly