"China is planning to introduce a new mobile payment regulation aimed at reducing the market share of Tencent Holdings' WeChat app, similar to efforts made by the National Payments Corporation of India to curb Google Pay and Phone's growing dominance in the market"
China's methods are more authoritarian than are viable in the west. But the general premise of a competitive market being better for society than dominance by a small number of firms is supported well by history
https://asia.nikkei.com/Business/Technology/Beijing-asks-Ten...
"Beijing asks Tencent to lower WeChat's mobile payment market share"
https://www.forbes.com/sites/zennonkapron/2022/11/09/chinas-...
https://www.business-standard.com/world-news/china-may-impos...
"China is planning to introduce a new mobile payment regulation aimed at reducing the market share of Tencent Holdings' WeChat app, similar to efforts made by the National Payments Corporation of India to curb Google Pay and Phone's growing dominance in the market"
China's methods are more authoritarian than are viable in the west. But the general premise of a competitive market being better for society than dominance by a small number of firms is supported well by history