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In urban China, cash is increasingly becoming an obsolete commodity

Tuesday, July 18, 2017 - 05:50

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China's mobile payments hit US$5.5 trillion, roughly 50 times the size of America's US$112 billion market, according to consulting firm iResearch.

Shanghai

THERE is an audacious economic experiment happening in China.

It has nothing to do with debt, infrastructure spending or the other major economic topics du jour. It has to do with cash - specifically, how China is systematically and rapidly doing away with paper money and

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