More face? The US media suddenly pointed the debt contradiction at China, and told the world that if China did not repay its debt more than 100 years ago, the United States would not recognize the money owed to China. The implication is to default on the debt!
This has to start with the collapse of the Qing Dynasty in 1911, when the treasury was empty. It borrowed 6 million pounds from the west to build the Huguang Railway and issued "Huguang Railway Bonds". Later, the Republic of China issued "Golden Financing Bonds".
These debts were born in the era when unequal treaties were piled up, and they were a means for foreign powers to squeeze China. At that time, the United States was allocated 32 million taels of reparations in the "Xin Chou Treaty", and the common people couldn't eat, so there was no equal transaction at all.
The founding of New China in 1949 made it clear that such inequal treaties do not recognize the debt, and the international community understands the reason.
In the 1980s, U.S. investors filed lawsuits against China, claiming $4,131 million in damages, and threatened to seize Chinese assets.
As a result of the Chinese appeal, the U.S. State Department itself stood out saying it was a "bad debt", and the new regime has no obligation to repay.
In 1984, the Supreme Court rejected the appeal, which was ruled out in the past.
Now that the United States has turned it out again, it is simply difficult to protect itself. The U.S. national debt has exceeded 36 trillion yuan, and it owes 100,000 yuan per capita. The debt is higher than the annual GDP.
China holds approximately $800 billion in U.S. debt, which is a real-profit foreign exchange reserve with a trade surplus.
In 2019, the "Kongress Mountain Daily" said that China did not recognize the $86 billion debt, and later Republican lawmaker Mark Green and others directly proposed a resolution, raising the debt to $1.6 trillion.
To put it bluntly, I just want to use invalid old debts to offset legal claims.
Cornell University law professor said earlier that this trial won’t win, years too long to rely on “legal creativity” to overcome.
Ironically, the U.S. has since withdrawn from paying compensation, but is now struggling with early default bonds.
The U.S. debt held by China is an investment based on modern financial rules, which is exactly the same as the hundred-year bad debt.
The United States is so upset, the core is to move domestic contradictions, cannot fill its own debt hole, and take China as a target, both wanting to rely on the debt and wanting to incite the public opinion.
But there is a legal judgment, logically not standing up, really trusting the account will only break their credit card, after all, the world is watching this drama.
Of course, all the above are personal opinions. If you have any different opinions on this, you can leave a message in the comment section to discuss!!!
This has to start with the collapse of the Qing Dynasty in 1911, when the treasury was empty. It borrowed 6 million pounds from the west to build the Huguang Railway and issued "Huguang Railway Bonds". Later, the Republic of China issued "Golden Financing Bonds".
These debts were born in the era when unequal treaties were piled up, and they were a means for foreign powers to squeeze China. At that time, the United States was allocated 32 million taels of reparations in the "Xin Chou Treaty", and the common people couldn't eat, so there was no equal transaction at all.
The founding of New China in 1949 made it clear that such inequal treaties do not recognize the debt, and the international community understands the reason.
In the 1980s, U.S. investors filed lawsuits against China, claiming $4,131 million in damages, and threatened to seize Chinese assets.
As a result of the Chinese appeal, the U.S. State Department itself stood out saying it was a "bad debt", and the new regime has no obligation to repay.
In 1984, the Supreme Court rejected the appeal, which was ruled out in the past.
Now that the United States has turned it out again, it is simply difficult to protect itself. The U.S. national debt has exceeded 36 trillion yuan, and it owes 100,000 yuan per capita. The debt is higher than the annual GDP.
China holds approximately $800 billion in U.S. debt, which is a real-profit foreign exchange reserve with a trade surplus.
In 2019, the "Kongress Mountain Daily" said that China did not recognize the $86 billion debt, and later Republican lawmaker Mark Green and others directly proposed a resolution, raising the debt to $1.6 trillion.
To put it bluntly, I just want to use invalid old debts to offset legal claims.
Cornell University law professor said earlier that this trial won’t win, years too long to rely on “legal creativity” to overcome.
Ironically, the U.S. has since withdrawn from paying compensation, but is now struggling with early default bonds.
The U.S. debt held by China is an investment based on modern financial rules, which is exactly the same as the hundred-year bad debt.
The United States is so upset, the core is to move domestic contradictions, cannot fill its own debt hole, and take China as a target, both wanting to rely on the debt and wanting to incite the public opinion.
But there is a legal judgment, logically not standing up, really trusting the account will only break their credit card, after all, the world is watching this drama.
Of course, all the above are personal opinions. If you have any different opinions on this, you can leave a message in the comment section to discuss!!!