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July 13, 2005
PayPal & eBay Invade China
It's not news that the action in the world of commerce is moving to Asia, especially China, and PayPal and eBay realize that better than most. And this week, PayPal~eBay announced a new payment service for Chinese Internet users (second only to the US in number). PayPal will, of course, deal in Chinese currency and its new service is integrated with 15 Chinese banks and more than 20 different debit cards.
The PayPal option will be available on popular Chinese portals NetEase and TOM Online, and will offer the same on eBay's own Chinese auction site, eBay EachNet, starting September first of this year. eBay is investing $100 million in China in 2005, according to an eBay spokesman.
I see this as a good thing. The more the residents of our planet are wired into the world economy - meaning a nice life style that they don't want to lose - the less likely war is. People with nothing to lose are dangerous!
Posted by SydneyJohnston at July 13, 2005 12:38 PM
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