If you like what Andy Xie says. That's good. He's understands the connection between US debt and China inflation. He's been pitting them against each other for a while:
"The most likely candidates to trigger the next global crisis are the U.S.'s sovereign debt or China's inflation. When one goes down first, the other can prolong its economic cycle. China may have won the last race. To win the next one, China must tackle its inflation problem, which is ultimately a political and structural issue, in 2011. If China does, the U.S. will again be the cause for the next global crisis. China will suffer from declining exports but benefit from lower oil prices. " andy xie
If people accept this, they do de facto accept what I've been saying for while about the connection between China inflation and their ownership of US bonds (sovereign debt).