I think you may have that the wrong way around. The U.S. needs China because if China decides to unload its U.S. Government debt Bonds in one hit it will cripple the Bond market. I think China has the strong hand in this. They have been using their U.S. debt bonds to buy Gold also. Russia unloaded about 20% of its total U.S. bonds a couple of months ago and drove down the bond market significantly. Given that the U.S. fed owns nearly 70% I think it is of its own debt bonds I think the U.S. needs these two countries to continue to hold these bonds otherwise it may well spark some serious problems for the U.S..
As it stands they are all leaving this market at its status quo for the time being, but it would not surprise me if Russia dumps a whole lot on the market soon given all the sanctions the U.S. and now Australia are placing on Russia.
