Fake news on Trump, China belies White House caution

Fake news on Trump, China belies White House caution

University of California law professor John Yoo and American Enterprise Institute fellow Ivana Stradner proposed last week to “seize the assets of Chinese state-owned companies. Under its Belt and Road Initiative, Beijing reportedly has loaned billions to developing nations in Africa, Eastern Europe, and Latin America, and then taken over their strategic ports and facilities once the debts fall due. The US could turn this strategy on its head by supporting the expropriation of these assets by legal process and the cancellation of these debts as compensation for coronavirus losses.” And attorney Gunnar Gunderson proposed on a prominent conservative website to repudiate the US Treasury’s $1.1 trillion debt to China.

Such measures are acts of war (see page 285 of the Defense Department’s manual of rules of war). If the United States were to do such things, its credit would collapse on world markets, at a moment when the US Treasury deficit is approaching 20% of GDP. Foreigners own $9 trillion of US Treasury debt, and the result would be a global financial crash of unprecedented proportions.

The link in the article didn’t work, so here’s the manual:

Defense Department’s manual of rules of war