It's hard to tell if there is genuine tension and enmity because of credible rivalry status between the US and China, or if everything is proceeding according to wider, deeper, much longer-term planning based on desired, durable and thus political coordination.  Large US, UK and EU investment banks are new entrants into China's nascent bond sector, yet also retain longstanding presences pertaining to China's financial and economic development.  Such factors should be weighed alongside other historical details in evaluating China's recent threats to 'dump US Treasury bonds', as well as to ultimately view any sense of symbiosis which the US and China are serving, and why.  Are banks such as JP Morgan Chase, Goldman Sachs, Citigroup, Standard Chartered, BNP Paribas, Deutsche Bank and others necessarily against a 'bond run' and wider trashing of US debt?  Or not so much?  Who benefits?  More specifically, who profits?