Home Business News China cover up: Beijing could have UK assets seized over Covid-19 damages

China cover up: Beijing could have UK assets seized over Covid-19 damages

by LLB Reporter
8th Apr 20 11:28 am

An expert has said that China should be forced to pay damages to the UK after Beijing covered up the initial outbreak of coronavirus in Wuhan.

The British government can seize property, assets and stop paying all sovereign debt.

Doctor Alan Mendoza, executive director of the Henry Jackson Society, told the Express, “Were the UK to pursue a claim against China and secure a judgment that mandated compensation and were China than to ignore it, we would be entitled to pursue any lawful means for collection on that judgment.

“The possibilities might include seizing Chinese state-owned property or halting repayment on Chinese-owned sovereign debt.”

Investment in the UK from China now counts for the ownership of 10% of Heathrow Airport, with large stakes or full ownership of British Steel, the National Grid, Thames Water, Hamleys, Harvey Nichols, Pizza Express, House of Fraser, Weetabix and Sunseeker yachts.

China also owns British assets such as, Southampton, Wolverhampton and West Bromwich Albion football clubs.

A sovereign wealth fund, the China Investment Corporation (CIC) are responsible for managing some of the People’s Republic of China’s foreign exchange reserves, which has a lot of investment in property and business infrastructure across the UK.

It is thought that Chinese institutions own around 15% of the UK’s debt totalling £267bn.

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