CHINA has a secret: It owes American investors hundreds of billions of dollars.
The Chinese government doesn’t like to talk about it and the US government doesn’t want to raise it. But decades ago, Beijing defaulted on debt owed to Americans, as well as investors and governments around the world. In one case, it was paid. In the rest it was not. More than 20,000 American investors own this debt. The US government may also own Chinese war debt, unpaid since World War II.
