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While the Covid-19 pandemic remains complicated around the world, American and Chinese officials blame each other for causing the disease. The Trump administration recently said that China’s $ 1.6 trillion in debt, nearly a century ago, would have helped the United States “take over” Beijing.
While the Covid-19 pandemic remains complicated around the world, American and Chinese officials blame each other for causing the disease. The Trump administration recently said that China’s $ 1.6 trillion in debt, nearly a century ago, would have helped the United States “take over” Beijing.
The US-based bond fund The US, Lewisburg, Tennessee, currently has debts, including the $ 1.6 trillion interest rate from China prior to the establishment of the People’s Republic of China.
The foundation says it wants the US Congress. USA Help redeem the money. An estimated US $ 6,000 in outstanding debt worldwide.
These bonds were loaned by the ROC, overthrowing the imperial government in a coup, until 1912 until they failed to pay in 1938. The ROC government fled to Taiwan. Loan, which remained the official governing body, after the communist party took over after the end of the revolution in 1949.
By law, Beijing maintains Taiwan as part of China, and its successor governments are responsible for the debts of its predecessors.
President Trump is a person who “kept his word and said he would implement this agreement and hold China accountable,” Jon Jonna Bianco, president of the US Bond Fund, told the AP. USA Fox Business.
Bianco, which has authorized 95% of the thousands of US bonds, said that pressing China to repay the debt was not a punishment, but only a regular payment of the international financial debt.
Previously, there was an international precedent for a similar movement: British Prime Minister Margaret Thatcher ordered Beijing in 1987 to earn money from British-owned bonds or to lose access to the British Investment Market. Then Chinese President Li Xiannian was forced to reach £ 23.5 million.
In their first letter on May 11, Robert O’Brien, national security adviser, and Larry Kudlow, president of the National Economic Council, addressed Eugene Scalia, United States Secretary of Labor. , saying that the White House does not want the Federal Pension Fund to invest in Chinese stocks. The amount of this investment is more than 4 billion dollars, its own source Fox Business said.
This is the next move in the war with Beijing, from trade, currency … now the capital market.
Xiao Xiaobo Lu, professor of political science at Barnard University at Columbia University, told FOX Business: “There is almost no American tool that can be used to put pressure on China without harming it. Love itself.”
Earlier this month, a group of senators Martha McSally, R-Ariz., Marsha Blackburn, R-Tenn. and Steve Daines, a Republican from Mont., introduced the Chinese Infectious Diseases Act, which, if passed, would give Americans the right to sue China for the damage Covid-19 caused. for the economy and human life.
Another group of senators, led by Lindsey Graham, introduced the Covid-19 Liability Law, which will give Trump the right to impose sanctions and travel bans, restrict loans by Chinese companies, and prohibit Chinese companies from listing on the exchanges. of US securities USA
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