Cash is quickly becoming obsolete in China

AP Photo/Andy Wong There are more ways to pay for goods and services now than ever before, and as such paper money seems increasingly old-fashioned. In China, cash is all but deadthanks to more convenient options. Last year, the volume of mobile payments in China more than doubled, surging to a total of $5 trillion. Figures from the first three months of 2017 suggest that Alipay and WeChat Pay are the two services that dominate the market, with the former accounting for 54 percent of transaction...