'To allow the most intimate details of our lives, from the gifts we buy our family to the donations we make to charity, to fall into the hands of an adversary would represent a failure of the U.S. government’s most fundamental obligations.' -Morgan Ortagus
has opened a new front in its cold war against the United States, and it is doing it with the help of some U.S. companies.
The Shanghai-based UnionPay is a titan in the credit card industry and now is the largest debit card processor in the world. While UnionPay is nominally a private company, the truth is it’s a state-controlled subsidiary of the Chinese Communist Party. Discover’s partnership goes back much further: Since 2005, Discover has taken part in a “landmark alliance between China UnionPay and Discover Financial Services.” David Nelms, then CEO of Discover, said: “This strategic alliance between China UnionPay and Discover Financial Services expands the links between the growing Chinese consumer economy and the U.S. market.”
With this partnership in place, credit cards could become a plastic TikTok. Swipe or tap at the register for an extra whip latte at Starbucks and Beijing will know it.
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