Book
The cashless revolution : China's reinvention of money and the end of America's domination of finance and technology / Martin Chorzempa.
"The future of finance--the way Wall Street operates and how individuals manage their money--is on the verge of upheaval. And the force underlying the change comes from China, where finance and technology are being merged into a system with consequences that resonate far beyond China's border. The changes of this global revolution in finance and technology--fintech--will be as powerful as those wrought in social media, retailing and advertising by giants such as Amazon, Facebook, Google, and Twitter, which have overturned how we shop and communicate"-- Provided by publisher.
Record details
- ISBN: 9781541700703 (hardcover)
- Physical Description: xii, 301 pages ; 25 cm
- Edition: First edition.
- Publisher: New York : PublicAffairs, 2022.
Content descriptions
| Bibliography, etc. Note: | Includes bibliographical references and index. |
Search for related items by subject
| Subject: | Digital currency > China. Finance > Technological innovations > China. Finance > China. Money > China. China > Economic conditions. |
Available copies
- 1 of 1 copy available at Tsuga Consortium.
Holds
- 0 current holds with 1 total copy.
Show Only Available Copies
| Location | Call Number / Copy Notes | Barcode | Shelving Location | Status | Due Date |
|---|---|---|---|---|---|
| Lakeshore Branch | 332.0951 Cho | 31681010295376 | NONFIC | Available | - |
- Baker & Taylor
With the future of finance on the verge of upheaval due to Chinaâs global revolution in finance and technology, this book delves deep into the ways this powerful force is changing both Wall Street and the way individuals manage their personal finances. 20,000 first printing. - Baker & Taylor
"The future of finance--the way Wall Street operates and how individuals manage their money--is on the verge of upheaval. And the force underlying the change comes from China, where finance and technology are being merged into a system with consequences that resonate far beyond China's border. The changes of this global revolution in finance and technology--fintech--will be as powerful as those wrought in social media, retailing, and advertising by giants such as Amazon, Facebook, Google, and Twitter, which have overturned how we shop and communicate"-- - Grand Central Pub
Financial Times, Best Books of 2022: Economics
The startling picture of how Chinaâs revolution in finance and technology is changing both Wall Street and the way individuals manage their personal finances.
The future of finance â the way Wall Street operates and how individuals manage their money - is on the verge of upheaval. And the force underlying the change comes from China, where finance and technology are being merged into a system with consequences that resonate far beyond Chinaâs border. The changes of this global revolution in finance and technology - fintech - will be as powerful as those wrought in social media, retailing and advertising by giants such as Amazon, Facebook, Google, and Twitter, which have overturned how we shop and communicate.
China reinvented money with lightning speed, transforming a backward, antiquated cash-based finance system into one centered on super-apps created by technology giants Alibaba and Tencent. More powerful than anything available outside of China, they allow their billion users to pay, borrow, invest, buy goods and services, travel, chat (and far more) all fused together in one mobile phone application. Think Facebook, Google, Twitter, Goldman Sachs, Amazon, J.P. Morgan Chase all rolled into one app.
We in the West need to understand Chinaâs cashless revolution for reasons ranging from the macroeconomic to issues of personal liberty: The cutting edge of finance is now in China, forcing major financial firms in the United States and the West to figure out how not to be left behind.. Chinaâs cashless revolution is also a harbinger of our future if we let the genie out of the bottle and allow big tech to become big finance. As money goes digital and central banks around the world consider launching digital currencies, we may have both immense convenience and a frightening concentration of power that could violate our privacy, stifle competition, increase financial risk, and give big firms or the government more control over our financial lives. And, once this genie is out of the bottle, the struggle to put it back in may be impossible.
