WeChat is to be banned in the USA

ironchef said:
You still live in China? Better be careful or they will ban ET.
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Yeah it's amazing that China has banned all those other platforms citing security reasons and yet they are all fine with their citizens accessing forums like ET here exposing them to poisonous "western liberal" ideas? LOL

Or maybe @Captain Caveman is a Chinese spy??!! :wtf:
 
There's so much misinformation, disinformation, malformation...false narratives...

A forum like Elitetrader.com that allows such is probably swirling with people here with other agendas that has nothing to do with trading.

wrbtrader
 
The ban is not on Wechat per se, it is on the transactions of US persons and US entities with Tencent, the company that owns Wechat. The transactions probably refer to the Wechat pay, a payment system widely used in China, as cash transactions are rare these days.

It will be interesting to see how this will work out, as many US companies doing business in China will be affected. These companies include MacDonald, KFC, Apple, Walmart, Target, and many others. Actually the most affected are these companies, ironically. Image a MacDonald employee in China tells a customer: " sorry we don't accept Wechat pay any more".
 
curiousGeorge8 said:
The ban is not on Wechat per se, it is on the transactions of US persons and US entities with Tencent, the company that owns Wechat. The transactions probably refer to the Wechat pay, a payment system widely used in China, as cash transactions are rare these days.

It will be interesting to see how this will work out, as many US companies doing business in China will be affected. These companies include MacDonald, KFC, Apple, Walmart, Target, and many others. Actually the most affected are these companies, ironically. Image a MacDonald employee in China tells a customer: " sorry we don't accept Wechat pay any more".
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That's not going to be a problem. That customer will just use another method to pay. Don't think he is going to embarrass himself by not being able to pay in front of his date because of Wechat ban. LOL
 
curiousGeorge8 said:
The ban is not on Wechat per se, it is on the transactions of US persons and US entities with Tencent, the company that owns Wechat. The transactions probably refer to the Wechat pay, a payment system widely used in China, as cash transactions are rare these days.

It will be interesting to see how this will work out, as many US companies doing business in China will be affected. These companies include MacDonald, KFC, Apple, Walmart, Target, and many others. Actually the most affected are these companies, ironically. Image a MacDonald employee in China tells a customer: " sorry we don't accept Wechat pay any more".
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Their Chinese operation can still do it, just that their US operations cannot.
 
JSOP said:
That's not going to be a problem. That customer will just use another method to pay. Don't think he is going to embarrass himself by not being able to pay in front of his date because of Wechat ban. LOL
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A majority of people do not carry cash anymore, and credit cards are not widely used in China.
 
JSOP said:
That is not correct. The USA president is elected by the people through a democratic process. The president of China? Uh no. That's the difference. We are NOT the same. Even if the President of the US from now on decides to make all of the decisions unilaterally, it's still not the same because the President USA still represents the people.
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On this issue you could not be more wrong than you are. In the U.S. we do not elect the President democratically. If we did, the popular vote would determine who wins. Instead we us another method altogether: "The Electoral College." The states, according to the Constitution, are free to choose either a democratic election of electors, meaning electors proportioned according to the popular vote, or a non-democratic election of electors in which the winner takes all. In practice that has meant we do not come any where close to a democratic election of our President. Only two states proportion electors!

I am not taking a side here, just pointing out a fact. We in the United States do not elect our Presidents democratically. We could, but we don't! And We don't even elect our Representatives to the House democratically because of Gerrymandering. Nor do we elect our Judges democratically. We do, however, elect our Senators democratically. So of the three unequal* branches of government , one is democratic the other two are partially not, or not at all...
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*It is a myth that there are three "co-equal" branches of government according to our U.S. Constitution. The Constitution is very clear on this matter. It puts by far the greatest power in the hands of the legislature, i.e., the Congress. And between the House and the Senate, the greater power rests with the House. The least power rests with the Executive. And I leave it to you to decide where the relative power of the Court rests, but it would seem it must rest somewhere between the House and the Executive. But, of course, since we regularly wipe our collective asses with the Constitution, theory predicts and practice contradicts.
 
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