Who remains to finance the US external deficit?

The "overheating" strategy applied in the United States (stimulating demand despite the return to full employment) may have positive effects (on labour productivity and the participation rate ), but will inevitably lead to a deterioration in the US trade balance and to a rise in its external debt. At the same time, because global foreign exchange reserves are no longer increasing, and because of political tensions with the United States, several countries (Russia, Japan, China) are reducing their holdings of assets in dollars. So who continues to finance the US external deficit and is that a wise choice? The list includes Europe and OPEC countries; for Europe, this is a choice that is making Europe poorer as its savings could finance investments in Europe .