• GreatAlbatross@feddit.uk
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    9 months ago

    If they’re external creditors, it makes it a lot easier for them to go “nope, not paying that, what are you going to do?” when they’re one massive state-backed monolith.

        • The Snark Urge@lemmy.world
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          9 months ago

          I think if they started working towards it, China would feel forced to step up their reunification efforts. If a nuclear deterrent is going to be a viable path back to a stable status quo, it will have to be a fait accompli with external help.

    • gravitas_deficiency@sh.itjust.works
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      9 months ago

      Sovereign default is a thing. It’s a short term solution that can get a country out of immediate danger, but has very negative long term effects.