USD (it has through trade—thanks #Walmart)
Discussion
Right .. China prints its currency to collect USDs its exporters bring ( thanks #walmart). With this collection, it buys US debt for a nice interest earning on top ..
Essentially it is printing its own paper to buy US debt :-)
In other words , China is not buying US debt ! US is buying China's debt for a 3 % interest -- buyer is the one who pays the price !
Great take—Break it down:
* #China creates and pays exporters with #fiat without need to issue debt because? This is a reduction in Chinese debt
It would explain the size differential of the money base between the two countries 
#Bitcoin tells the truth :-)
Actually that is all it does - demystify the leverage and fake narratives ..