The way things are right now, it's beyond the "take down the enemy" stage. I think for China, the question is how to get their money out without losing it all by killing the dollar. I'd say that's the only reason they haven't done more. Like a major shareholder in a corporation, they can't afford to sell too much too fast because the value of their own American assets will plummet.

One solution might be to buy a lot of private, non publicly traded companies. Another would be to buyl real estate. Another might be to buy large chunks of foreign corporations on U.S. exchanges. Does anyone know if the recent purchase of BHP Billiton shares was on the NYSE traded shares?