Like the article mentions, private sector credit systems have the same or similar result in dictating outcomes, but as long as its not from the state, nobody in the west will care about it. Which is very weird because it is exactly how people end up living in worse neighborhoods even if they have enough money to pay rent elsewhere, leading to worse and worse outcomes and no way to change that. A state sanctioned one…
A standard US credit score system may seem to be similar, but there are some important differences: - a person has access to their file - there are ways to correct mistakes on file, should any be found - scoring algorithm is more or less known
Also:
- it's limited in scope to financial accounts.
The end goal of the Chinese system appears to be to rate you on nearly every aspect of your life, which is quite different.