Debt Bonds owed by China

[Zeng]

It is being reported that China has around $800 billion in debt bonds that are owed to the USA, these bonds were issued before the PRC Communist take over, though in all the world courts and financial centers it is ackowledge, that this debt remains. As recently as the change of Government in Iraq, China pressured the UN and the UN agreed that monies owed to China, are still owed by the new Government of Iraq as an example concerning Government changes.

[Randy W]

http://americanbondholdersfoundation.com/

 

Check the recommendations at the bottom of the page.

[jesser30]

Thanks for the info.... I had no idea about this.... I think I will send an email to my congressman and senator

[TLB]

They've evidently been at this awhile, but haven't gotten much traction yet...

 

http://www.cbsnews.com/stories/2008/07/17/cbsnews_investigates/main4267154.shtml

 

I wonder if the international legal situation for this is complicated by the fact that the government that issued the bonds still exists... on Taiwan.

[knloregon]

The most problematic (towards collecting the debt) aspect in my mind, is that it wasn't a central issue in the very protracted WTO talks that lead to PRC's admission. If viewed as valid by the international community, this would have been the time and place to settle the debt.

 

The reality is, that much of the debt owed to the USA was generated by the KMT in the lead up to---and during WW2 ---and much of the war materials purchased was set aside by the corrupt KMT for later use against the Communists---currently in power. Very good accounts about the accumulation of that debt, and the 'sweet' politics involved can be had in Sterling Seagrave"s "Soong Dynasty", and Barbara Tuchman's "Stilwell and the American Experience in China."

 

---and while I'm on the the subject of recommending that period's reading---let me recommend a brand new just published account from a member of my church---by Keith Lee, about the Chinese/American mechanics (including his father) who were among the first to take the fight to Japan---arriving in Kunming on Dec. 7, 1941 --- with the AVG (Flying Tigers).