You notice how relatively quiet the western news has been about yesterday's meeting, and even more so Wang Yi's meeting with Sherman today? Don't believe me, let's have a look at the most extreme end of the scale, Radio Free Asia:
Look at how short it is, particularly the section on Wang Yi's meeting today. Wang Yi actually gave Sherman three bottom lines that's extremely revealing on the balance of power between China and the US:
1. The U.S. must not challenge, slander or even attempt to subvert the path and system of socialism with Chinese characteristics, Wang said, stating the first of the three demands. Chosen by history and the Chinese people, China's path and system are matters of Chinese people's welfare and Chinese nation's future as well as core interests that China must firmly uphold, he added.
This one is bit of a meh. It's not like US has any capacity left to influence and cause colour revolution in China. This one you can consider a bit of a padding.
2. The U.S. must not attempt to obstruct or interrupt China's development process, Wang said. The Chinese people have the right to live better lives and China has the right to modernize, as modernization is not an exclusive right of the U.S., he said, urging the U.S. to remove all unilateral sanctions, high tariffs, long-arm jurisdiction and technology blockade it has imposed on China as soon as possible.
This one is extremely powerful. If Sherman agrees to this one she might as well stay in China because she will be immediately hung for treason if she returned. Imagine if US drops technology blockade. I think in that case China shouldn't even buy US treasury, we might as well give them half a trillion bucks just like that. Then we'll go to the US with another half a trillion dollars and go "alright show me all of your technology, EUV lithograph, jet engines, Starship whatever you have, because I'm buying EVERYTHING.
3. The U.S. must not infringe upon China's state sovereignty or damage China's territorial integrity, Wang said, referring to issues surrounding China's Xinjiang, Tibet, Hong Kong and Taiwan. These issues have never been about "human rights" or "democracy," but concerning "Xinjiang independence," "Tibet independence" and "Hong Kong independence." No country will allow its national sovereignty and security to be compromised, he reiterated.
As for the Taiwan issue, Wang said it's even more important. He said the fact that both sides of the Taiwan Straits belong to one and the same China and Taiwan is part of China has never changed and will never change. If "Taiwan independence" forces dare to provoke, China has the right to take any necessary measure to stop it, Wang said, urging the U.S. side to honor its commitment on Taiwan issue and act prudently.
This one is saying "you play that game of chicken too hard and one day I'm going to launch forceful reunification, try to stop me."
So basically Wang Yi gave Sherman two impossible demands and is holding it up as requirement for a Biden-Xi meeting. That's almost a straight up "no" to US asking China to buy more treasury. The western media don't know what to do so they're playing down the news and hope people forget it ever happened. So if you had any doubt before about who's begging who the above should clear things up for you.