China is conducting a campaign to recover hundreds of billions of dollars in unpaid capital-gains and income taxes owed by wealthy citizens. The Chinese Communist Party is going as far as scrutinizing overseas investments to collect this money. At the same time, the country is defaulting on a major obligation: Beijing owes more than $1 trillion to US investors who have been waiting decades for repayment. This situation comes as Washington and Beijing are renegotiating the terms of their trade and financial relations ahead of the planned meeting between Presidents Trump and Xi.
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