Chinese Economics Thread


SimaQian

Junior Member
Registered Member
Please, Log in or Register to view URLs content!

Fortune wrote about this from US perspective
They are just salivating at the processing fees. There is very little to none Visa or Mastercard penetration in China. Why would a merchant in China accept a 3% settlement fee for visa/mastercard while alipay/wechat is just 0.6%? All electronic payments need settlement. US dont have a share with the settlement fee in China. So everytime you use a Visa card, 3% of your money is feasted by visa and issuing bank.

The digital currency, will reduce all those processing fees. It bypass both the payment processor and the bank.

They just generalized the Chinese have math comprehension same as the west. They forgot the Chinese are armed to the teeth in terms of math! There is no justice why do asians, particularly Chinese are stereotyped as math nerds if we dont have the higher ground in numbers game.
 

emblem21

Junior Member
Registered Member
Trump will probably settle this out of court with some sweets offered to the big companies.
Hmmm, considering the profits lost thanks to Trump hijinks and given that he has costed the semi conductor industry, tourism industry, farming industry and tech industry a lot of profits thanks to his tariffs and trade war actions, it can be expected that no amount of (fake) money is going to save him after November, either the riots/social collapse will get him eventually, or the corporations will bury him and his entire family for messing with there otherwise perfectly working market thanks to everything he has done. If he fails to help those corporations to make up those loses, he is in a whole lot of shit.
 

AndrewS

Major
Registered Member
They are just salivating at the processing fees. There is very little to none Visa or Mastercard penetration in China. Why would a merchant in China accept a 3% settlement fee for visa/mastercard while alipay/wechat is just 0.6%? All electronic payments need settlement. US dont have a share with the settlement fee in China. So everytime you use a Visa card, 3% of your money is feasted by visa and issuing bank.

The digital currency, will reduce all those processing fees. It bypass both the payment processor and the bank.

They just generalized the Chinese have math comprehension same as the west. They forgot the Chinese are armed to the teeth in terms of math! There is no justice why do asians, particularly Chinese are stereotyped as math nerds if we dont have the higher ground in numbers game.

If Alipay or Wechat become established in the USA, then Visa/Mastercard would have to slash their fees by 80% to compete.
Of course, we're unlikely to see that happen, particularly in the current climate.

Note that Europe has a 0.2%-0.3% cap on fees from Debit/Credit cards.

---

Below is an old Bloomberg article on US payment fees versus Alipay/Wechat

Please, Log in or Register to view URLs content!
 

bajingan

Junior Member
Please, Log in or Register to view URLs content!

An insightful article by asia times on how america selfishly sacrifice its own ally for its own narrow interest, the article explains that by siding with the us in a confrontation with China, australia risk burying its economy alive without any single benefits that it can get from the us

Well China should let australia dig its own grave, don't interrupt when your enemy is making mistakes
 

emblem21

Junior Member
Registered Member
Please, Log in or Register to view URLs content!

An insightful article by asia times on how america selfishly sacrifice its own ally for its own narrow interest, the article explains that by siding with the us in a confrontation with China, australia risk burying its economy alive without any single benefits that it can get from the us

Well China should let australia dig its own grave, don't interrupt when your enemy is making mistakes
Yeah, only when Australia has ruined itself will China consider coming back, although it will only be when Australia is begging for help this time and will have no choice but to bow to China’s wishes instead. It didn’t have to be this way but since Scott Morrison won’t see reason, then he must suffer. Australia is nothing without the USA and once the USA is out of the picture, well China can easily isolate Australia and force them to see reason since they have to see that the age of the Anglo Saxon dominance is quickly approaching its end and they isn’t much they can do about it other then ace the music. If Scot Morrison cannot fix the economy that he ruined with his Trump loving ways, then all it would take is a BLM riot in Canberra and you can bet that this man will fold immediately
 

Top