The New Asian Crisis: China’s real estate meltdown hits family wealth; 70% assets tied to property. 34 top developers in default.

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China is in default on a trillion dollars in debt to US bondholders. Will the US force repayment?

BY ANDREW HALE, OPINION CONTRIBUTOR – 07/04/23 7:00 AM ET

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Every country should pay its sovereign debt. Default, we are told, is not an option. But has anyone told China?

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.

Successive U.S. administrations have chosen to sidestep this fact, allowing business and trade with China to proceed as normal. Now that the relationship with China has soured and the People’s Republic of China has become the greatest adversarial threat to the U.S. and Western security, policymakers should revisit this appalling failure of justice.

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thehill.com/opinion/international/4075341-china-is-in-default-on-a-trillion-dollars-in-debt-to-us-bondholders-will-the-us-force-repayment/

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