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Chinese borrowers default in record numbers as economic crisis deepens
- makaimc 3y agohttps://archive.is/E1li6 https://archive.is/E1li6
- octokatt 3y ago> 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 [...] > “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,” [...] According to the article, this is happening to about 1% of China's population. Techno-facism is bad, you guys. Non-monopolistic markets are good.