Dealing with a superpower like US, China is always put in a disadvantageous positon. American defaulting the debt is very likely to have a devestating impact on Chinese economy, no arguement on that. But people should keep in mind that US is also going to pay a huge price for doing that, something like the crown of being the most powerful country on the planet. And why would the Americans do that? I have always pointed out that China has intention to replace America as the lead of the world, and China is demonstrating that by supporting American economy through purchasing American debts. As long as China keeps acting dscreet and posing no overwhelming threat to Americans, they are not going to take adventurous move against China. Instead, they are going to contain China in a slow and gradual way by allying countries like Japan, India. As of now, Americans gain more and lose less in the growth of China, so we are safe.