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Chinese borrowers default in record numbers as economic crisis deepens

11 pointsby makaimcover 1 year ago

2 comments

octokattover 1 year ago
&gt; Under Chinese law, blacklisted defaulters are blocked from a range of economic activities, including purchasing aeroplane tickets and making payments through mobile apps such as Alipay and WeChat Pay [...]<p>&gt; “I thought my son was going to starve since I didn’t have any cash at hand and all my daily purchases were made through WeChat,” [...]<p>According to the article, this is happening to about 1% of China&#x27;s population.<p>Techno-facism is bad, you guys. Non-monopolistic markets are good.
makaimcover 1 year ago
<a href="https:&#x2F;&#x2F;archive.is&#x2F;E1li6" rel="nofollow noreferrer">https:&#x2F;&#x2F;archive.is&#x2F;E1li6</a>