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TikTok BOOM! First shots fired in US-China Internet Cold War (Video)

Via AntiWar.com (https://news.antiwar.com/2020/08/07/as-trump-advances-ban-cia-says-no-evidence-of-tiktok-giving-data-to-china/)…
Chinese app TikTok remains under fire by President Trump, with allegations that their being Chinese means China could access their user data, making it a serious problem. President Trump is set to ban TikTok next month.

How China’s Mobile Ecosystems Are Making Banks Obsolete

Giant Chinese tech companies have bypassed credit cards and banks to create their own low-cost digital payment systems.
The US credit card system siphons off excessive amounts of money from merchants, who must raise their prices to cover this charge. In a typical $100 credit card purchase, only $97.25 goes to the seller. The rest goes to banks and processors. But who can compete with Visa and MasterCard?