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IMF Deputy Managing Director, Bo Li, Praising the Chinese Social Credit System and Cashless Society

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First published at 20:57 UTC on March 5th, 2023.

#china
#socialcredit
#cbdc

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In October 2022, the International Monetary Fund (IMF) Deputy Managing Director, Bo Li, was praising the Chinese Social Credit System and pointed out how well people can be controlled in a cashless society.

"In China, transaction data can be u…

"In China, transaction data can be utilized by service providers in CREDIT UNDER ID. These non-traditional data can be very useful for financial service providers to give me a credit score."

So, whatever you do - whether it's calling an Uber, buying several crates of beer for your local football club, purchasing critical books, or even the time of day you make these transactions - these services will glean almost everything about you, including your attitude towards the government and society.

Instead of taking action and standing up against the oppressive system, it's alarming to imagine that individuals may simply distract themselves with mindless entertainment (e.g. TV and gaming) and accept their subjugation with a smile, even as their freedoms are stripped away and they become chained to the system.

If we fail to take action at this moment, it's highly likely that we will run out of time in the near future.

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