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.
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.
Ah, reminds me of that quote I saw in Civ VI: If you owe the bank a hundred dollars, that’s your problem. If you owe the bank 100 million dollars, it’s the bank’s problem.