The Soapbox

hoolstoptheheels

Joined: 01/04/2001 Posts: 27052
Likes: 34334


No I disagree. Credit score is completely different, and isn't new.


Credit scores have been around as long as credit has been around. It tracks things relevant to your ability and demonstrated willingness to meet your financial obligations. The only thing that's changed with technology is the efficiency and accuracy of the tracking process. And transparency allows you to see where the weaknesses are, and correct your behavior or mistakes in the data.

China is Orwell on steroids. If you are caught talking to a person govt doesn't like - maybe you just randomly gave him directions on the street - you could lose social credits, and lose access not just to credit, but to absolutely everything society has to offer. Will you ever know why you were penalized? Do they need to give you a reason?

China's is a case where one day you could be caught looking over a shoulder at a forbidden book somebody else is reading, and lose your house as a result. It is night and day different from credit scores in the west.

And another indicator that China is not destined for anything close to the sustained economic "greatness" that everyone thinks it is, IMO anyway.

(In response to this post by 111Balz)

Posted: 09/20/2018 at 10:43AM



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