Actually it is the only sound argument....
Do you really think it is better for Communist China to buy our t-bills and bank accounts? That money would be better served being held by Americans.
The global reality is that the US has a multi-trillion dollar trade deficit. Even if that money is reinvested into the US...it is still held by non-Americans...our economy is at the mercy of foreigners
And Communist China isnt exactly “friendly” with the USA.
Also, Communist China keeps American exports from being sold in China...as China floats their currency to artificially lower the value of their domestic goods...and keeping US goods artifically high.
Actually....the Free Trade Globalism you espouse is the “Third Way”....you should familiarize yourself more with “Third Way” before making that accusation.
The reality is that Free Trade Globalism does not work....will not work...and will never work.
The Third Way, first articulated by the likes of Joseph Broz Tito and Juan Peron (with its roots in Mussolini’s Italy) emphasized economic nationalism (via import substitution) as a “third way” between laissez faire capitalism and communism.