now I think it may not be a bad idea for China to hold Treasuries. When this crisis is over, US is still likely to be the number one country for many years. Look at Europe, Japan, and other regions. They are even worse than the US, economy and stock market wise. So by becoming the number one holder of US Treasuries, China will live and die with US. US can't easily destroy China because its own fate is closely linked with China.