1. Conversions from RMB to dollars in this book use a standardized rate of 6.5 RMB to 1 USD.

2. “Inside VISA,” https​://usa​.visa​.com​/dam​/VCOM​/download​/corporate​/media​/visanet​-technology​/aboutvisafactsheet​.pdf, accessed March 24, 2018.

3. Beginning in 2016, the popular business press seemed to wake up en masse (if maybe five years too late) to the idea that the Chinese technology sector can, in fact, innovate. For a small smattering of articles on the topic, see Paul Mozer, “China, Not Silicon Valley, Is Cutting Edge in Mobile Tech,” New York Times, August 2, 2016; Jonathan Woetzel et al., “China’s Digital Economy: A Leading Global Force,” McKinsey Global Institute, August 2017; Louise Lucas, “China vs. US: Who Is ...

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