Success here might help offset the economic and broader social/political costs of bifurcation with China, assist U.S. innovation and progress, and strengthen the United States and its allies of their competition with China. Payments is an example of a technology where Chinese firms innovated creating a model new system utilizing QR codes and smartphones powered by massive tech corporations instead of the Western system of plastic playing cards and magnetic stripe-reading machines working via big banks. Rather than exporting this new system in a means similar to what different technological leaders have done, China seems to be making a U-turn.
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