US curbs on Chinese payment apps could have global and political implications
US officials are mulling restricting the expansion of Ant Group’s Alipay and Tencent’s WeChat Pay, but this could hinder US services trying to expand into China
08 October 2020 - 14:54
Hong Kong/New York — The Trump administration’s potential restrictions on two Chinese payments giants would reverberate far beyond politics, potentially affecting multi-billion-dollar deals, shaking up international commerce and even shaping the evolution of the global financial system.
US officials have stepped up behind-the-scenes talks in recent weeks about possibly restricting the expansion of Ant Group’s Alipay and Tencent Holdings’s WeChat Pay over concerns that the digital-payment platforms threaten national security, Bloomberg reported on Wednesday...
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