Finance & Fury Podcast

Welcome to Finance & Fury, the Say What Wednesday Edition, where every week we answer questions from you guys, the listeners! This week’s question comes from Gabriel; “Hi Louis, I listened to an episode on NPR on the Chinese Social Credit System and thought I'd like to hear your thoughts on it. Is it a dystopian future? or an unavoidable path that started with the loss of privacy on the internet?" That’s a great question, so today we’ll run through the potential downfall of China, what this is social credit system, why they are doing it, and looking at what the future holds in store as well.     The Social Credit System is a national reputation system being developed by the Chinese government. Announced in 2014 with limited implementation occurring this year The plan is to have this up and running fully by 2020 with the intention to standardise the assessment of citizens' and businesses' “credit”. Credit is a combination of economic and social reputation We have ‘credit’ scores based around lending, b