Inside China’s Vast New Experiment in Social Ranking
Mara Hvistendahl at Wired: “…During the past 30 years, by contrast, China has grown to become the world’s second largest economy without much of a functioning credit system at all. The People’s Bank of China, the country’s central banking regulator, maintains records on millions of consumers, but they often contain little or no information. Until recently, it was difficult to get a credit card with any bank other than your own. Consumers mainly used cash….
