No Money Is Yours! Money Control Amplifies Authorities’ Power.Chinese Economy Like Casino Capitalism
No Money Is Yours! Money Control Amplifies Authorities’ Power.Chinese Economy Like Casino Capitalism
Udumbara No Money Is Yours! Money Control Amplifies Authorities’ Power.Chinese Economy Like Casino Capitalism
Debit card transactions are currently limited to ￥5,000 per day. People are frustrated that they can earn money but can't spend it. They are all becoming cogs in a planned economy. The worst thing is that the ￥5,000 cap applies to all the off-counter transactions, including online banking, mobile banking, online quick payment, sales terminal POS machines, ATMs, and payment platforms such as Alipay and WeChat. People say we can't live like this anymore.
Netizens have confirmed that even their salary cards, which are obviously debit cards, have a limit of ￥2,000 imposed by their banks. A social media influencer had his card frozen due to exceeding the ￥5,000 limit. Completing a purchase for a mobile phone on the largest Chinese online shopping sites Taobao requires instalment payments. Buying a car requires endless trips to the bank. In the case of illness and the need to stay in hospital, a deposit of at least a few thousand USD is required in advance. Making an appointment with the bank to get the cash out takes time, and by the time the money is in hand, the ill person may have already died several days ago.
Many online forums are expressing frustration and criticism towards the Chinese government for mismanaging banks and scrutinising the wallets of ordinary citizens. Netizens said, “We earn our own money, but we can't spend it freely. Whose money is it? Who has the final say?” A Chinese lawyer stated that this practice violates the rights of depositors to do what they want with their savings deposits.
they want with their savings deposits. When people are forced to manage their money according to the will of the authorities, it amplifies the control that they have over their citizens. Over time, people's money may unknowingly stop belonging to them and instead become assets of the mastermind behind the scenes, turning them into cogs in a planned economic system.
