China’s e-payments ecosystem is set to step up a level of sophistication as the coronavirus pandemic and deteriorating US-China relations hasten Beijing’s plans for a digital fiat currency; potentially complicating a landscape dominated by Alipay and WeChat Pay. The central bank’s e-yuan, called Digital Currency Electronic Payment (DC/EP), would let […]
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Trump’s TikTok and WeChat Ban Could Backfire Inside China
Photo Illustration by Kelly Caminero/The Daily Beast/Getty HONG KONG—As Donald Trump moves to ban transactions with WeChat and ByteDance, the parent company of TikTok, people in China are wondering if they’ll need to ditch their iPhones to keep their favorite app, and noting that the White House’s splinternet rhetoric is […]