On: Who owns America? Hint: It's not China

[toisanji]

You are correct that Taiwan is a separate country. Hong Kong 100% belongs to China and so any decision that comes from Hong Kong actually comes from Beijing.

[astine → toisanji]

Nevertheless, it is economically and administratively distinct. Debt controlled by Hong Kong is controlled by a substantially different set of people than debt controlled by China proper.

[mrcsparker → toisanji]

That all depends where you are sitting. The Chinese certainly don't consider them a separate country.

[brown9-2 → mrcsparker]

But realistically speaking, Taiwan has it's own government, China has no say, and other governments of the world interact with Taiwan as a peer.

[Wilduck → brown9-2]

Although the US does not officially recognize them as a separate country.

[kelnos → Wilduck]

... for political reasons only. Taiwan self-governs, and is economically distinct from China, which is what matters here.

[ldar15 → kelnos]

Unless we are talking about China using the debt for hostile purposes, in which case the independence of RoC and what it may be willing to do to stay independent, might be exactly what matters. Ditto HK. I assume everyone involved has plans to move their money if PRC attempts nationalization, but if its delivers instructions to "keep your money, just dont roll it over" or "dont roll it over and we'll cover any loses as the dollar ceases to exist" then some people will have some hard choices to make.

[kelnos → ldar15]

I suppose there's also a question of what (if anything) the US would do to help Taiwan stay independent if China decided to re-unify via force. Definitely a potentially sticky situation.