The Financial World’s Nervous System Is Being Rewired
And It Is Not America That Is Doing It
The Economist,
2020
Recommendation
Payment systems around the world are evolving rapidly, as legacy networks face competition from fintechs seeking more efficient ways to transfer cash. For example, China’s Tencent and Alibaba are building what industry observers term “parallel banking systems.” This concise but informative article on the geopolitics of finance reveals how these systems are as much about the movement of information as they are about the movement of money.
Summary
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The Economist is an independent weekly magazine covering business, foreign affairs, science and technology.
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