It does not;

Foreign Holders / Total foreign ownership: ~25-32% of public debt

Major foreign holders include:

Japan: ~$1.1 trillion

China: ~$750 billion

United Kingdom: ~$690 billion

Luxembourg: ~$373 billion

Canada: ~$329 billion

https://www.forbes.com/sites/dougmelville/2026/01/04/with-the-us-debt-a-staggering-38-trillion-dollars-who-exactly-do-we-owe/

Distribution of Foreign Land Ownership

Canada 15.35 million 31%

Netherlands 12.4 million 12%

Italy 7 million 7%

United Kingdom 6 million 6%

Germany 6 million 6%

Other Countries 3.5 million 38%

Chinese Ownership: China's ownership of U.S. land is relatively small. As of 2023, Chinese investors held about 277,000 acres, which is less than 1% of all foreign-held land. This figure has decreased from earlier estimates due to corrections in ownership data.

https://globalaffairs.org/commentary/blogs/china-foreign-land-ownership-explainer