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CFIUS blocks deal: Is the U.S. becoming Chinese? - Internet Governance Project


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A Forbes article made one attempt to justify the block based on national security concerns: “The Treasury Department is probably right to be concerned about a Chinese company buying Moneygram and using it as a platform to enter the US payments market,” one Salvatore Babones wrote. “After all, the Treasury Department itself uses the global dominance of Visa, Mastercard and the SWIFT interbank payment system to exert pressure on other countries in the service of U.S. foreign policy goals. As Fintech leads to the consolidation of payments systems under the control of a small number of global giants, it is strategically important that those giants be under domestic control.”

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