Prime Minister Margaret Thatcher, of the United Kingdom, and Prime Minister Zhao Ziyang, of the fascist People’s Republic of China, sign the Joint Declaration on the Question of Hong Kong, agreeing to turn the island of Hong Kong and the mainland enclave of Aberdeen (which was to belong to the UK in perpetuity) back over to China when the lease on the mainland New Territories expires on July 1, 1997.  Thatcher felt Hong Kong would be militarily and economically untenable without the New Territories.

       [added 10/10/2020]

Subsequent Events:

5/27/1985                    6/4/1989

References:

Current U.s. National Debt:

$36,167,124,467,492

Source