imapuppetlookaway@lemmy.worldtoWorld News@lemmy.world•The Money of The Upstarts – The BRICS countries want to create their own currency to end the hegemony of the U.S. dollar. China holds a dominant position in the alliance.English
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1 year agoMoney and Macro has an excellent video clarifying this.
Yes and no. It’s backed by the Chinese government and pretty much mandatory for living in, working in China. For example, taxes are done with a WeChat mini-app, companies use only WeChat to communicate (email is rare now). During Covid, you could only get tested by using a WeChat mini-app to register, and no testing meant no life. You can’t cross into or out of China without using a Wechat mini-app to generate a qr code that they scan at the border. etc etc.
It doesn’t do ride-hailing. Didi does that. But WeChat does just about everything else. Oh, and all similar non-Chinese apps are blocked.