The Chinese Double Standard

www.webToday.tv ^ | 03/19/2012 | webtoday.tv

[geraldmcg]

THE PROBLEM:

1. China has defaulted on much of its 1912‐1941 debt to US citizens and the government. 2. China settled the same debts with Great Britain in 1987. 3. In an era when our debt to the Chinese is at historic highs, why has the US government not brought the Chinese to the table in a constructive fashion in order to resolve its outstanding debt?

THE DOUBLE STANDARD:

[agere_contra]

Because the moment the US tried to come to terms the dollar would lose reserve status.

Everything in America would become five times more expensive.

[JCBreckenridge]

Actually, no they couldn’t collect. It’s Taiwan that owes that money not the PRC.

[WilliamofCarmichael]

We owe them? No, no. That's not it.

.. PAST DUE. Red China has made some payments on the technology and other intellectual property they've stolen and extorted over the past couple of decades. Where's the rest they owe us?

United States Free Enterprise, INC.

INVOICE

Capital, Goods and Services stolen and extorted by the Peoples Republic of China FDI, Intellectual Property, technology, know how . . . . . . . . . . . . . . .$ 2,500,000,000,000.00

Current payments due from the Peoples Republic of China . . . . . . . . $ 1,000,000,000,000.00 Remaining amount due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,500,000,000,000.00

Your Treasury certificates are your payment receipts. Thank you.

[agere_contra]

Oh my bad, I assumed this was about US debt to China.

I guess the US would have a case here: though as you say I bet the bond is technically Formosan debt.

[JerseyanExile]

But would it? Both the PRC and ROC have a "One China Policy", that is, they do not recognize the legitimacy of the other, and both claim to be the true Chinese government. The US has recognized the PRC as the legitimate Chinese government for the past 32 years - thus, any debt of older predecessors of the PRC to the US would be inherited by that government, not the ROC.

[JCBreckenridge]

You’re quite right in this. If the PRC wish to claim that they are the ‘true China’, then they should be willing to assume the debts of the ‘true China’.

That they have not, tells me that they are not really the ‘true China’, but are merely the PRC.

With recognition comes responsibility, and until they do step up to the plate, that means they are illegitimate.