China is not to blame for the US's financial woes: our current domestic, foreign, and banking policies have brought us to the place we are now.
China has an enviable surplus: the US government may well collapse, choking under the weight its own deficit.
Jobs have been allowed by this government to be offshored, creating a huge unemployment problem in this country.
Those people who, legitimately, qualified for a mortgage when they got it, but are now without work, cannot keep up the payments, so houses are foreclosed on, and these people are now both jobless and homeless.
You have a situation where he banks have deliberately oversold those mortgages to the point where no one really knows exactly who holds the title.
Obama has continued an endless cycle of costly wars, with the situations in Afghanistan and Iraq going horrendously badly; yet, we are also at war in Pakistan, and soon, Yemen.
The only people actually "winning" in these situations are the defense contractors, who provide mercenaries, supplies and logistics, and the drug lords.
Did the Chinese government do anything to cause any of the above to happen?!? Not at all.
The US government is desperately attempting to deflect blame from the fact that it is US governmental policies which have wreaked havoc on the lives of the American people, not the Chinese government.