China’s Potential New Trade Weapon: Corporate Social Credits
“We are sorry Mr. CEO but your company has received too many social demerits. We will now seize your assets.”
(From The Wall Street Journal)
The imminent nationwide implementation of Beijing’s corporate social-credit system is unnerving foreign businesses, which have been bracing for further countermeasures from Beijing as the trade war continues to take unexpected twists and turns.
Beijing said in late May that it is drawing up a blacklist of entities it deems unreliable in apparent retaliation against Washington’s campaign targeting Chinese telecommunications giant Huawei Technologies Co.
http://www.againstcronycapitalism.org/
Source: https://www.ac2news.com/2019/08/chinas-potential-new-trade-weapon-corporate-social-credits/
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