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Lawmakers want to make China pay its trillion-dollar debt to Americans
By Andrew Hale
The Hill, Washington
Friday, April 19, 2024
It's practically an international article of faith: Countries may not default on their sovereign debt. Yet China has done just that on $1 trillion it owes to U.S. bondholders.
Is there nothing we can do about it?
Finding members of Congress willing to talk tough isn't hard.
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Many resolutions and joint letters over decades have called for China to honor its debt to U.S. citizens. But too many members, their election coffers lined by Wall Street and other financial and business interests heavily exposed to China, leave it at that.
That makes the action of Sen. J.D. Vance, R-Ohio, all the more noteworthy. He recently introduced a bill to address the People's Republic of China's selective default on American bondholders of Chinese sovereign debt. ...
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