I agree but default is the wrong word IMO. That's like saying the crime victim failed to pay the thief.
IMO here is the proper business approach.
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
Payments received from the Peoples Republic of China . . . . . . . . . . .$ 1,000,000,000,000.00
Amount due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 1,500,000,000,000.00
Your Treasury certificates are your payment receipts. Thank you. [End of invoice]
Yes, the U.S. dollar may suffer but Red China will have a revolution with about 100 million more unemployed citizens joining the tens of millions already giving the Communist Party headaches.
I like the way you think.
Let me add that upon China getting cute with America, the American navy using the excuse of pirates off the African coast, shuts down oil shipments from Africa to China. China runs out of fuel in two weeks.