Don't see how. Doesn't affect other countries holding USD, just China? Other countries will likely follow suit too. It's compensation for the damage they incurred on the world in a way that they can do nothing about.
Only if they unleash a global pandemic, which is highly unlikely. I also suspect other countries will join in cancelling the debt China holds on them.
Maybe other countries will be more concerned with not unleashing a global pandemic themselves as a result, which would be a positive thing.
There you go!
aninews.in
by 2023, Chinese involvement in British infrastructure to zero.
UK plans cut in Huawei's 5G network in the wake of coronavirus outbreak
London [UK], May 23 (ANI): British Prime Minister Boris Johnson is planning to reduce Chinese telecoms equipment maker Huawei Technologies Co Ltd's involvement in Britain's 5G network in the wake of the coronavirus crisis, the Daily Telegraph newspaper reported.
aninews.in
by 2023, Chinese involvement in British infrastructure to zero.
Not if people know and understand the reason for reneging on it. You can't just do damage and get away with it, that would be a far worse precedent to set. The reason for reneging on it isn't some kind of political agenda, it simply compensation for the damage that their virus has done, only partial compensation at that. The US GDP is $20+tr and this virus has shut down most of that for 2 months and counting, that's way more than the amount of US debt China owns already, so cancelling that debt (circa $1.1bn as of Jan 2020) is letting them off lightly. Anyone can understand that.
If it was more a matter of, "well, I think you stink, so I'm not repaying any debts to you," then people might lose respect for their debt, even if the aforementioned statement is entirely true.
If there was such a thing as an international claims court, China would be taken to it and be ordered to pay compensation. Sadly there isn't, so this is how it has to be done.
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What exactly is your point here? People might say, "Oh no, I'm not buying US debt in case I need to start a pandemic some day?" I don't think you even have a point.
Why would the US be the one losing trust when China has started a pandemic and blocked an independent investigation despite every nation of any significance voting in favour of one? China's the one losing trust here. What do you expect? The ability to do damage without having to pay compensation. Don't want to live in that world thanks. You break it, you pay for it.
In the larger picture, the pandemic is nothing. It's just the world's way of taking a short vacation from humans. Your reasons are merely emotional.
There are various other ways to make China pay, but it won't affect China in the long term. The only way to make an actual change in China is by forcing a regime change, which the US is incapable of doing now.
The Americans are not stupid enough to ignore their own debt.
Update : - 15/05/2022
Update : - 16/05/2022
Update : - 17/05/2022
Update : - 18/05/2022
Update : - 19/05/2022
Update : - 20/05/2022
Bollywood Numbers on Twitter
Update : - 21/05/2022
Bollywood Numbers on Twitter
Update : - 22/05/2022
Bollywood Numbers on Twitter
The intention behind taking a break from posting these numbers on a daily basis was deliberate so that we could step back & see how the numbers added up over a week to the nation's tally as well as see how the various states performed in the same time period particularly the ones where as the tally suggests there's no progress in curtailing the spread of the infection in spite of the lockdown but we're definitely regressing.
Mah, TN & Delhi are the biggest troubled spots here. Guj, MP, UP & Raj seem to be more or less steady . Barring a day or two, we haven't seen too much fluctuations in their general progress in curtailment although the tally in these cases have gone upwards in a steady manner.
Kar & Ker - 2 stellar examples of how to tackle the Chinese virus seems to have relapsed. But with the return of migrants this was to be expected. One hopes they will return the previous figures of a month ago in a short time as citizen co operation as well as health care systems in both these states particularly the latter are pretty solid.
Data from WB, CG & JK to be taken with a pinch of salt. While this is true of all states if not most states, data from these states are particularly dubious. Unfortunately the return of migrants from across India to their homes ( albeit WB has denied permission of return to the migrant labor) is set to worsen the situation particularly in WB given the after effects of Cyclone Amphan.
Update : - 16/05/2022
Update : - 17/05/2022
Update : - 18/05/2022
Update : - 19/05/2022
Update : - 20/05/2022
Bollywood Numbers on Twitter
Update : - 21/05/2022
Bollywood Numbers on Twitter
Update : - 22/05/2022
Bollywood Numbers on Twitter
The intention behind taking a break from posting these numbers on a daily basis was deliberate so that we could step back & see how the numbers added up over a week to the nation's tally as well as see how the various states performed in the same time period particularly the ones where as the tally suggests there's no progress in curtailing the spread of the infection in spite of the lockdown but we're definitely regressing.
Mah, TN & Delhi are the biggest troubled spots here. Guj, MP, UP & Raj seem to be more or less steady . Barring a day or two, we haven't seen too much fluctuations in their general progress in curtailment although the tally in these cases have gone upwards in a steady manner.
Kar & Ker - 2 stellar examples of how to tackle the Chinese virus seems to have relapsed. But with the return of migrants this was to be expected. One hopes they will return the previous figures of a month ago in a short time as citizen co operation as well as health care systems in both these states particularly the latter are pretty solid.
Data from WB, CG & JK to be taken with a pinch of salt. While this is true of all states if not most states, data from these states are particularly dubious. Unfortunately the return of migrants from across India to their homes ( albeit WB has denied permission of return to the migrant labor) is set to worsen the situation particularly in WB given the after effects of Cyclone Amphan.
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Err... nope. The outbreak originated in China either due to inadequate hygiene standards at the Wuhan market or improper safety procedure compliance at their Wuhan lab. It's no coincidence that all recent flus and respiratory viruses have originated in China. Then there's their attempts to suppress what was happening, which they were also guilty of back in 2002. It's not acceptable, not even slightly.
2002–2004 SARS outbreak - Wikipedia
Why would it be stupid? It's not debt if it's cancelled as compensation. Are you telling me people are going to buy Renmimbi instead. China doesn't have any friends right now and it owes compensation.
Look at it as Chinese money being taken to pay off that debt. That's the way of looking at it.
All the more reason for Hindus to stay away from muslims and boycott them. They do not consider India to be their natural home. They want to ruin this nation to establish khalifaat in India.
World should punish China by
1. Cancelling all debts countries owe to China
2. Confiscating all assets China own in all countries - stocks, treasury bonds, physical assets
In COVID-19 pandemic it was China vs. the rest of the world, the revenge should now be rest of the World vs. China
This will cause massive internal revolt within china with sure shot possibility of its break up and collapse.
Starving rats are reportedly turning into cannibals and attacking one other as their restaurant food supply disappears
The CDC has warned that rats have become more aggressive. Reports of rats swarming deserted streets as they desperately scavenge for food.
Honestly, by NOT paying the debt to China, they do two things : They write off their debt unilaterally and they cause a sharp recession in China. Both are good for USA.
BTW, all credit rating agencies are American. So US bonds won't suffer one single bit.
Errr... Do you know why the debt is bought? Hint : Its usually no longer due to any pay-off / yield in the present up-side down world.
The only mistake US has done was to let this rumor run that US may cancel her debt obligations held by China but it is still fixable.