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by reese_john
45 days ago
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> US officials involving themselves in your national market because they are unhappy with the market share of their companies in it Just to clarify, for anyone who’s been paying attention to the matter, it’s clear that the true reason for that Section 301 investigation is not due to Pix stealing market share of MC/Visa. In fact, if you check Brazil’s central bank own data, Credit Card usage has not gone down since Pix came in. What Pix really replaced was physical cash. The fact is that Brazil’s (current) government has been publicly on the other side of Americans interests for a long time, even before Trump’s term.
e.g. blatantly ignoring Iran sanctions
https://www.cruz.senate.gov/newsroom/press-releases/sen-cruz... |
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Pix is clearly mentioned as one of the topics for that investigation due to 'unfairness' and 'harming the competition'.