Longshot Bet on Ancient Chinese Bonds Could Pay Off Thanks to Trade War
Holders of Old Chinese Debt Hope Trade War Means Huge Payday
President Donald Trump’s next move in an increasingly fraught trade war with China could be one for the history books, literally. The Trump administration has been studying the unlikely prospect of reviving century-old claims on Chinese bonds sold before the founding of the communist People’s Republic.The defaulted China bonds can be found in the attics and basements of thousands of Americans, or on EBay, where the  certificates sell as collectibles for as little as a few hundred dollars each. The PRC, which succeeded the Republic of China after it replaced the imperial dynasty, has never recognized the debt, though that hasn’t stopped decades of attempts to collect payment on it.