Martin Chorzempa on China’s Cashless Revolution and the Rise of Super Apps
Macro Musings with David Beckworth
The Social Credit System in China
The social credit system in China is one of the worst reported on things I've ever seen. It was mainly driven by a problem, which is that Chinese courts were not able to enforce their judgments. Some local governments who are doing pilot programs under the social credit system have created actual ranking systems. The challenge is how much do you rate paying back your loans versus visiting your parents? There won't be a score that rules them all and it's exactly what determines your value in China.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
