Ep 2 ft. Tracy Alloway, Lee Buchheit, Alex Xiao
Clauses & Controversies
The Viability of a Dollar-Issued Bond with a First Priority Claim
The speakers discuss the legal context and potential defenses of a dollar-issued bond with a first priority claim that China will pay before other obligations. They explore the concept of set off and the possibility of using debt to cancel what the US owes to China. The chapter also mentions the American bondholders foundation and their arguments for blocking China from selling new debt if they do not pay their existing debt claims.
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