Social Credit System: Get with it, says EU

This is not really a GBA item, but it’s so important for anyone with an interest in any part of China that we thought it’s best to include it today. The European Chamber of Commerce “dropped the mic”, in the words of those clever chaps at Trivium, by releasing a report yesterday that looks – hard – at the country’s Social Credit System. 

Foreign companies doing business in China – including those not necessarily based inside China – need to get up to speed with the SCS, because it will inevitably have a major impact on their businesses, the chamber says.

We couldn’t agree more. The SCS is not something cooked up from a chapter of Orwell’s 1984, though many Western commentators would like to portray it as such. It’s much more complex and, dare we say it, forward-thinking than anything Orwell could have come up with. And it was really designed with companies, not individuals, in mind. The part we find most fascinating about it is how a “national security” score could determine if a company ends up on either a blacklist or a redlist. (Take a wild guess which of those lists is the “good” one.)

There is no need to ramble on and upstage the smart people at the EU Chamber, however. Read the report yourselves.

And if that isn’t enough for you, read Trivium’s brilliant explainer of the entire system. It’s best to be sitting on the couch when you do, as it’s a long read, but they also provide an executive summary.

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