Capital Controls Increase: Union Pay Card Restrictions

Bloomberg: Macau Casinos Fall on Report China to Regulate UnionPay Use
UnionPay will require millions of mobile point of service transaction devices, or debit-card transaction terminals, to be properly registered across the nation, the South China Morning Post reported, citing an internal memo issued by the company’s headquarters on Thursday. The memo sets out a detailed nationwide audit and warns that sanctions will be imposed if a raft of new controls are not adhered to, according to the newspaper.
The flow will not stop; it will find a new outlet.
Water is fluid, soft, and yielding. But water will wear away rock, which is rigid and cannot yield. As a rule, whatever is fluid, soft, and yielding will overcome whatever is rigid and hard. This is another paradox: what is soft is strong.
“Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing.”

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