As with everything concerning international law: it depends on the weapons and strategic alliances of each entity.
There are several reasons why China is ramping up ICBM production, the possibility of a country in debt “switching sides” in order to avoid payment, is likely one of them.
I always wondered this, what happens if a country in debt gets conquered by another entity? Are the debt still valid?
As with everything concerning international law: it depends on the weapons and strategic alliances of each entity.
There are several reasons why China is ramping up ICBM production, the possibility of a country in debt “switching sides” in order to avoid payment, is likely one of them.
Hopefully this will be helpful (to understanding this type of debt):
https://www.economist.com/finance-and-economics/2018/09/27/american-creditors-say-china-should-honour-pre-communist-debts
Not saying it will be repaid, but at least the article goes into how debt is handled when governments change hands.