Key Takeaways
1. The goal of the China social credit system is to provide a holistic assessment of an individual’s, or a company’s, trustworthiness.
2. The China social credit system, while still in development, is arguably an extension of existing social rankings and ratings in China which have existed for millennia.
3. The consequences of a poor social credit score could be serious. It may affect travel prospects, employment, access to finance, and the ability to enter into contracts. On the other hand, a positive credit score could make a range of business transactions much easier.
4. It is essential that any foreign business consolidating or establishing their presence in China seek professional advice for managing a social credit score. This applies both to individual scores, and the corporate social credit score.
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Do you think this is a good system for managing people so that good people get more benefits at the expense of bad people.
The mid point trap door and description for it highlights the real reason behind this. It's all about absolute political control and coercion. A dystopian society where you cannot criticize the leaders of your country, even if they are completely incompetent and leading your people to self destruction. The good news it such societal controls ultimately lead to self destruction of the political elite, the bad news is it can take a while to happen and nobody knows what will be the final straw that breaks it. It's pathetic and almost comical that they put online cheating at the bottom of all this, like that is the worst thing in society - not drugs, or domestic abuse, or any numerous other crimes.