As someone who deals with businesses and their taxes and tax litigation, I can see a hundred ways this can be abused to be just below the threshold and do whatever the shit the business wants.
Anyone else reading the NATO-ally scare of China's corporate social credit system as an attempt to discredit democratic feedback into our social structures?
While I certainly don't like China's authoritarian approach to everything, I actually like this idea of "Big Corporates" being forced to maintain a certain standing with the public and the government via laws and regulation. The current approach of leaving it to the "market" and measuring this only through money (profits and share prices) is just unviable and too simplistic for a global economy.
(Please also understand the historical context - both India and China have historically been exploited by the richest and largest corporate company in the world. Thus, they understand what happens when businesses become too big and start competing with the government. At one time, the East India company had a private army matching that of the British empire!)
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[ 2.2 ms ] story [ 25.0 ms ] threadAnd give a lower priority to any supplier or buyer with a good CCP's corporate social credit score.
Can't wait for first WTO lawsuits to hit CCP.
I can't wait for the world hunger to end
In 10 years after the fact for a ruling that will be just ignored and not change a single thing.
(Please also understand the historical context - both India and China have historically been exploited by the richest and largest corporate company in the world. Thus, they understand what happens when businesses become too big and start competing with the government. At one time, the East India company had a private army matching that of the British empire!)