Unlikely. Debt we owe china is leverage we have over them. If they tried to use it for political purposes, all we need to do is say "we're not paying." For bonus points, we can also say "100% tariffs on chinese goods."

All of a sudden, $900 billion of China's assets are toast. This will hurt their credit rating as much as ours (do they have any collateral anymore?).

Debt between nations is not the same as debt you owe to the bank.