lmao so they'll hold a shyt ton of USD and Gold to boot. they're also working with Uganda on the $12t worth of gold deposits... yes t as in trillion, too
these nikkas aint playing in the 21st century
Some history is in order. Before 1949, the government of the Republic of China (ROC) issued a large volume of long-term sovereign gold-denominated bonds, secured by Chinese tax revenues, to private investors and governments for the construction of infrastructure and financing of governmental activities. Put simply, the China we know today would not have been possible absent these bond offerings.
In 1938, during its conflict with Japan, the ROC defaulted on its sovereign debt. After the military victory of the communists, the ROC government fled to Taiwan. The People’s Republic of China was eventually recognized internationally as the successor government of China. Under well-established international law, the “successor government” doctrine holds that the current government of China, led by the Chinese Communist Party, is responsible for repayment of the defaulted bonds.
Every country should pay its sovereign debt. Default, we are told, is not an option. But has anyone told China?
