Republic of China Debts Recalled as US Senator Introduces Resolution Demanding China to Repay USD$1.6 Trillion Debt
US Republican Senator Martha McSally put forward a resolution on Thursday demanding China to repay its sovereign debt of more than USD$1.6 trillion (around HKD$12.5 trillion), interests included, to US bondholders.
McSally said, “China has repeatedly failed to honor its obligations to America, taking American families’ money and jobs… We are holding China accountable for its debt and for unleashing the coronavirus on the world. We demand China pay back the $1.6 trillion it owes to American families.”
The bonds were issued in 1912 by the Republic of China, which subsequently migrated to Taiwan. The People’s Republic of China established its sovereignty in 1949 and insists that Taiwan is part of China. According to international law, a successor state is responsible for the debts of its predecessor.
#PRC #MarthaMcSally #McSally #coronavirus #debt #sovereigndebt #ROC #Taiwan
Source: Apple Daily #Aug14
https://hk.appledaily.com/international/20200814/NUXWIHXV7NFZPI5J77CJ7IRGUM/
US Republican Senator Martha McSally put forward a resolution on Thursday demanding China to repay its sovereign debt of more than USD$1.6 trillion (around HKD$12.5 trillion), interests included, to US bondholders.
McSally said, “China has repeatedly failed to honor its obligations to America, taking American families’ money and jobs… We are holding China accountable for its debt and for unleashing the coronavirus on the world. We demand China pay back the $1.6 trillion it owes to American families.”
The bonds were issued in 1912 by the Republic of China, which subsequently migrated to Taiwan. The People’s Republic of China established its sovereignty in 1949 and insists that Taiwan is part of China. According to international law, a successor state is responsible for the debts of its predecessor.
#PRC #MarthaMcSally #McSally #coronavirus #debt #sovereigndebt #ROC #Taiwan
Source: Apple Daily #Aug14
https://hk.appledaily.com/international/20200814/NUXWIHXV7NFZPI5J77CJ7IRGUM/