Speaking on The Pat Kenny Show, Lagarde underscored Europe’s dependence on foreign digital payment infrastructure. “Visa, MasterCard, PayPal and Alipay are all controlled by American or Chinese companies,” she noted, arguing, “We should make sure there is a European offer.”
This is more going into the direction of feudalism than just capitalism. A million tiny realms and every one keen of keeping their population locked in and uninformed about the outside world. I think there’s even a name for it: technofeudalism.
It was bound to happen eventually.