Chinese borrowers default in record numbers as economic crisis deepens

> Under Chinese law, blacklisted defaulters are blocked from a range of economic activities, including purchasing aeroplane tickets and making payments through mobile apps such as Alipay and WeChat Pay [...]

> “I thought my son was going to starve since I didn’t have any cash at hand and all my daily purchases were made through WeChat,” [...]

According to the article, this is happening to about 1% of China's population.

Techno-facism is bad, you guys. Non-monopolistic markets are good.