China may be dumping US dollars but the renminbi is down...................
As for deficits people who think that countries are run in the same basis as their own personal funds are always wringing their hands over nations doing the same .
The USA is the country of last resort in the financial system - it's where money flees to whenever and wherever there is a panic and I can't see that changing for years. Would you REALLY take your cash and invest in a Russian or Chinese Bank rather than an American one???