China’s new plan to seize the world’s tech crown from the U.S

Re:China’s new plan to seize the world’s tech crown from the... by scarmig on Thursday May 21, 2020 @04:58AM (#23256259)

There are some philosophical questions involved about what is "advanced": is it purely a matter of timeliness? Of what requires a more sophisticated set of institutions to sustain? Who has more advanced weaponry: a civilization with barely functioning firearms, or one with arcane but sophisticated metallurgy to forge durable, sharp swords?

Comparing consumer payment infrastructure in the US and China, there is really no comparison. For me, in cost, convenience, and security (against the threat models I'm concerned with), China wins on every factor, by significant margins. Except opening a bank account.

A month after I moved to China, I got a fraud notification. From what? It turned out a gas station in Oakland had a skimmer. I'm told stuff like that simply can't happen in China (which I take with a grain of salt, but I have a hard time imagining what fraud vectors there are).

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Re:China’s new plan to seize the world’s tech crown from the... by dirtyid on Thursday May 21, 2020 @05:08AM (#23256318)

Chinese banking security confuses me, internet explorer activex plugins for much too long but also fairly rigorous protection. I don't know anyone whose been defrauded via the banking infrastructure itself. At least it seems like not a issue compared to credit card fraud in the West. Was blown away I could still swipe and sign credit cards a few years ago in the US.

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Re:China’s new plan to seize the world’s tech crown from the... by skinnymuch on Thursday May 21, 2020 @06:41AM (#23256843)

For an anecdote. I don’t know anyone in the US that has had serious fraud happen. At most one or two items purchased as fraud.

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