Request communist China government to redeem imperial dynasty ‘s bond
The Hukuang Railway bond was sold in 1911 to help fund construction of a rail line stretching from Hankou to Szechuan in China.
After the downfall of Qing dynasty and Government of the Republic of China, as a successor, communist China government did not recognize the debt, of course. A political regimes should inherit their predecessors’ rights and obligations.
According to Mitu Gulati, law professor at Duke University and a sovereign-debt restructuring expert. “But I can’t help but be tickled pink, because at a legal level these are perfectly valid debts. However, you’ve got to get a really clever lawyer to activate them.”
It is obviously valid debt.
After years of colony, Hong Kong ruled under communist China since 1997, but not the Republic of China. It is the evidence that Communist China government exercised its rights under legal principle. At the same time, Communist China government should also admit and inherit the predecessors’ debt.
US should put enforcement on communist China government, they are practical and legal:
US government should pay imperial dynasty ‘s bond to Communist China’s holding US national debt as Principal and interest or at least, US should block Communist China selling new debt in international markets if China government refuses to redeem imperial dynasty ‘s bond
Or communist China government could give up the rule on HK to deny its successor ‘s legitimacy.