President Trump is determined to hold China responsible for its role in the global pandemic. And he might have a new option.
China doesn’t seem all too eager to repay us for all that we’ve lost. It will take some serious negotiating to get China to admit their faults.
But it looks like Trump doesn’t have to go very far to find leverage. Because there’s a great big one right nearby.
The Lewisburg, Tennessee-based American Bondholder Foundation holds $1.6 trillion of century-old Chinese debt, including interest, dating to before the founding of the communist People’s Republic of China, that it wants the administration’s help in redeeming. There is an estimated $6 trillion or more of the debt outstanding worldwide.
Now, this is news! A Tennessee-based firm apparently holds $1.6 trillion of century-old Chinese debt.
The bonds were sold back when the Republic of China was in power, after they ousted the imperial government. When the communist government took over, ROC fled to Taiwan.
Because China considers Taiwan a part of their country, they are responsible for this debt.
How interesting! Funny how they’ve been trying to ignore this gold-backed debt for over 100 years.
Plenty of people talk about how much debt the world owes China. Yet there is an estimated $6 trillion debt owed by China around the world.
How much do you want to bet China won’t even recognize this debt?
They don’t have a leg to stand on, though. Either they have to admit they owe this money or acknowledge Taiwan isn’t a part of their country.
Talk about a rock and a hard place!
Chairwoman of the American Bondholder Foundation claims Trump promised to “do this deal.” While we don’t have official confirmation from the White House, don’t be surprised if this comes up soon.
You better believe Trump will be knocking on China’s door very soon. He will most likely use whatever arsenal is at his disposal to get China to pay.
This $1 trillion debt is a good place to start!
Author: Adam Casalino