The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Visionary bondholders try to recover pre-Mao debt


"In a world of free trade and global economy, Americans are suffering severely. We have turned a blind eye and a deaf ear to our own people as we struggle to compete in the New World." This battle cry for US self-help comes from an unexpected source - a dispute between US bondholders and the Chinese government over unpaid debt.


The statement continues: "The ABF has a vision for Americans. One that will educate our youth, feed our hungry, shelter our homeless, provide affordable safe energy, build our homeland security and protect and care for our elderly including our veterans ... The ABF can and will be a blanket of security for its country and its people through its vision. A vision that is not a dream, it is a reality. A plan that really benefits ALL Americans."


A noble cause

It's stirring rhetoric. We all know how much Americans have been made to sacrifice for the globalized economy, ruthlessly exploited by heartless multinationals, bullied by unaccountable institutions inflexibly enforcing the austere Buenos Aires consensus, driven off their traditional lands and into destitution. But what is this ABF? And how does it plan to usher in this new golden age of wealth and security, of renewable energy and care for the elderly? A revolutionary new approach to life and society, perhaps?


Not quite.





You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree