This bit in particular sums up why US is in a panic right now

“Finding buyers for US debt is the top mission of Yellen. From a medium-and-long-term perspective, China is disposing of US debt,” it says. “Who else will buy it? Japan is the biggest creditor of the US but cannot buy more. The United Kingdom is facing an economic recession and sold $30 billion of US debt in April.”

Hilarious that China, renowned for its near-schizophrenic economic controls, is asking the US to lighten up on its own policies that, frankly, don't go far enough to balance things out between the two.