What kind of kindergarten smooth brain wrote that garbage ‘legal’ argument? Successor governments refers to a change of government operating within the same legal and constitutional framework of the country, such as when a new president assumes power. It’s so democrats can’t just ignore any bonds issued by previous republican administrations.
Besides, the RoC, which issued those bonds, still exists on Taiwan island, so they should be going after WanWan for the trillion right now in any case.
The only scenario under which the PRC might have the tiniest tangential obligation for those bonds is if it absorbed the RoC peacefully, and part of the agreement was that the PRC would honour existing international obligations made by the RoC.
A real half competent legal professional working for the best interests of their clients (the defunct bond holders) should have been arguing that the RoC pay them back, or that the American government makes honouring those bonds a condition for its support of a peaceful reunification of China.
Had they gone down that route decades ago, then there is actually a real chance those bond holders might actually be made ‘whole’.
But is just a meaningless BS excuse the Americans pulled out of their ass, as they always do, so it should be ignored externally but well publicised internally to show just how toxic and cancerous American ‘legal’ bullshit is.
