Opinion: Chinese companies may be at a disadvantage in the digital economy if Libra succeeds globally but is banned in China

According to NPR, on July 31st, Peter Chorzempa, a researcher at the Peterson Institute for International Economics, wrote that if Facebook can attract and convert a large number of current users of Facebook and WhatsApp into Libra holders and users, it can immediately surpass China. Everything done in user building. The problem for China is that if Libra is truly successful on a global scale but is banned in China, then China is at a disadvantage. Chinese companies may be at a disadvantage in the digital economy compared to companies that can accept Libra. This is a rather scary prospect.