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According to the Chinese government’s 2015 Plan for Implementation, the Social Credit System is due to be fully implemented by 2020. Once implemented, the system will manage the rewards and punishments for businesses, institutions and individuals on the basis of their economic and personal behavior.
What is China’s credit rating?
Standard & Poor’s credit rating for China stands at A+ with stable outlook.
What does the Social Credit Party believe in?
The Social Credit Party of Canada (French: Parti Crédit social du Canada), colloquially known as the Socreds, was a populist political party in Canada that promoted social credit theories of monetary reform. It was the federal wing of the Canadian social credit movement.
How many surveillance cameras does China have?
770 million surveillance cameras
According to industry researcher IHS Markit, at the end of 2019 there were 770 million surveillance cameras in China, and this was expected to exceed 1 billion by the end of 2021.
Has the US credit rating ever been downgraded?
Markets care about a lot of things. Credit ratings aren’t one of them. 10 years ago today, Standard & Poor’s made a $2.1 trillion math error, fought with the Treasury for several hours, then downgraded America’s credit rating from AAA to AA+.
What is China’s Social Credit System and how does it work?
And it’s already been switched on. China’s “Social Credit System” – which is expected to be fully operational by 2020 – doesn’t just monitor the nation’s almost 1.4 billion citizens. It’s also designed to control and coerce them, in a gigantic social engineering experiment that some have called the “gamification of trust”.
Will China’s Health Social Credit System be around by 2030?
Just last week, the British government announced its own version of a health social credit system. China’s system was announced only seven years ago. Considering the growth of algorithms and dependence on tech giants, the ability to track, censor and eventually punish ordinary citizens will be mindboggling by 2030.
What is the Corporate Social Credit System?
The corporate social credit system focuses on whether businesses comply with laws and regulations and pay their taxes when assigning a score to businesses. Product and service quality is also likely to be factored into a business’ score soon.
What will be most surprising about our new Social Credit System?
As it grows in breadth and power, what may be most surprising about our new social credit system won’t be collective fear of it, but rather how quickly most people will fall in line. Kristin Tate is a libertarian writer and an analyst for Young Americans for Liberty.