It's the exact same thing that happened with Japanese cars. Believe it or not, Japanese autos used to be considered cheap junk in the 70s and early 80s.
Same thing with Germany in the 19th century: "inferior copies of English designs".
Those who don't know history will be forced to repeat past mistakes.
Yeah I don’t think this is accurate. The credit card companies do what the banks want, and the banks do what the government wants. If they can make a dollar legally they‘d prefer to.