China is using Bitcoin to pump money out of the US from Cointelegraph

China is pumping money out of the US with Bitcoin

The US-China trade war is entering its fourth year. Former US President Donald Trump saw results different from what he originally expected: America has faced higher tariffs and sanctions against Chinese companies and has not benefited nearly as much. It has costs the country up to 245,000 jobs. The U.S. Chamber of Commerce calculated that the situation threatens the exports of every state. The damage to Florida’s exports alone, for example, is already 1.9 billion US dollars.

At the same time, China was taking a smarter approach: it not only imposed mutual sanctions and exported its products via intermediate countries (Vietnam, Taiwan and Mexico), but also made the US pay for unsecured and poorly regulated assets – cryptocurrency.

Alex Axelrod is the founder and CEO of Aximetria and Pay Reverse. He is also a serial entrepreneur with over a decade of experience in leading technology roles. He was director of big data at JSFC AFK Systems’ research and development center. Alex previously worked for Mobile TeleSystems, the largest telecommunications provider in Russia, where he led the development of anti-fraud and cybersecurity systems.

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