Is Debt to China a form of destabilization, or just needing to feed the masses?

I saw a picture of a wealthy woman on the streets of New York, and thought of our mounting debt to China. To what extent is this lifestyle we are living being subsidized by the Chinese government? And, are our politicians pandering the people of the United States out to the Chinese? Some people are certainly making money, but they do it on the backs of poor Chinese workers (who should enjoy the same protections workers in the US are entitled to), but by and large the whole thing is leading more towards the bankrupting of the US. Free markets should be controlled exchanges, to be more fair to workers on both sides of the pond.