The difference being that it's not the U.S. govt that owns the China debt, it's American citizens (heirs of the investors who bought the Chinese railroad bonds a century ago).
Don’t China and many other countries hold trillions of dollars of American debt, money that we owe them? Suppose they ask for repayment as bonds come due, rather than reinvesting in more of our bonds?
Everyone should pay their bills, but it strikes me that this subject is part of a larger piece of international bond sales by many other countries. There could be repercussions if we would try to force this issue.
Curiously, a year or two ago, China owned about $1 trillion in USA Treasury debt.
Cancel interest payments on their USA bonds, confiscate their principal, and call it even?
Yeah, we know. We have a turncoat collaborationist speaker who resembles that remark.
Note that the pre-1949 KMT bonds were to be paid in gold - not some government paper fiat currency. So no wonder it is still worth to argue about repayment.
Contrast with present US Govt debt, which is all denominated in green pieces of paper. All bond-holders will definitely be paid - just fire-up the printing presses!
Yet China has done just that on $1 trillion it owes to U.S. bondholders. Is there nothing we can do about it?
If China won’t pay their debt to us then we are going to have to make the rich pay their fair share and make up the difference.
It’s for the children
Wouldn’t do a darn bit of good anyway since the Biden Administration spends a trillion every 100 days.
We could start by seizing the Chinese purchased farmland so many here have been worried about.