China is in default on a trillion dollars in debt to US bondholders. Will the US force repayment?
thehill.com
The United States pays interest on approximately $850 billion in debt held by the People’s Republic of China. China, however, is currently in default on its sovereign debt held by American bondholders.
You are viewing a single comment
if you owe your bank manager a modest debt you are in his power; if you owe a huge debt, he is in yours.
I bet china will change addresses without updating their forms.
They kind of did. They moved to Taiwan. But the loan was against the house, so...
Ah, reminds me of that quote I saw in Civ VI: If you owe the bank a hundred dollars, that's your problem. If you owe the bank 100 million dollars, it's the bank's problem.