If China was smart they would sell their US treasuries and buy bitcoin and prohibit export of ASICS and use them to mine. But they probably wont.
Discussion
True. I think they're still keep the threat of dumping all their treasuries as a card they can play. They've played a few already that I thought they'd wait on, so might be this week if things continue to escalate
China is definitely more strategic and focused on the long term compared to the US but the no bitcoin buying/mining might be a huge fumble on their part (and potentially be a savior for the US if they ever buy big)