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Hebei, a Northern Chinese Province, Unveils an App That Triggers a Notification When You're Near Someone in Debt
China is gearing up to launch a social credit system in 2020, giving all citizens an identity number that will be linked to a permanent record. Like a financial score, everything from paying back loans to behaviour on public transport will be included. One aspect of this social credit system is a new app in the northern province of Hebei. From a report:
According to the state-run newspaper China Daily, the Hebei-based app will alert people if there are in 500 metres of someone in debt. It's like being on Oxford Street and being able to work out everyone around you who was in debt. According to the financial charity, the Money Charity, the average UK household debt (including mortgages) was $76,000, in June last year. That's a lot of notifications. |
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| There are no conversations. |
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| cauz |
Jan. 23, 2019, 4:42 p.m. |
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| Noam Chomsky |
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy. |
| Noah Feldman |
The Chinese public is deeply nationalist, which matters to China's unelected political leadership as much as U.S. nationalism does to American politicians. As China becomes the world's largest economy, there is meaningful public pressure for its power status to advance in parallel. Any alternative would be humiliating. |
| Anne Campbell |
Ending up-front fees should make it far easier for all students to go to university as they will no longer have to pay up to /1,125 out of their loans at the start of each year. Student loans will also rise to meet average living costs. |
| Godfrey Gao |
Sometimes I read that I'm not 100 per cent Chinese, because I don't look all that Chinese. That's a strange one - I am Chinese. |
| Danny Elfman |
I had to do this very aggressive, big score in a very short time, and knowing that in the beginning, middle, and end would be this very, very famous theme, but I still had to weave a score around it and make it work as a score was really challenging. |
| James Daly |
I think up until that time a lot of focus on Internet coverage was either sort of the bits and bytes aspect of it, sort of the high-tech aspect of it, and the sociological aspect of it, which is how it was transforming culture. |
| Gilbert K. Chesterton |
The object of a New Year is not that we should have a new year. It is that we should have a new soul and a new nose; new feet, a new backbone, new ears, and new eyes. Unless a particular man made New Year resolutions, he would make no resolutions. Unless a man starts afresh about things, he will certainly do nothing effective. |
| Lisa Caputo |
Go out and interview people to find a partner whom you can trust. Find somebody who subscribes to the same view that you do. I'm happy to tell you that I practice what I preach. I would have never thought I'd end up in financial services. I'm happy to tell you that my debt is retired. That happened because I got a good financial adviser. |
| Eugene Fama |
State constitutions typically provide that the state first has to service its debt, then make it pension payments, and then pay for services. What we don't know is whether that order will be enforced. And ultimately, the busted state is going to be looking to the federal government for a bailout. Think Greece, but on a much bigger scale. |
| Karl Marx |
Anyone who knows anything of history knows that great social changes are impossible without feminine upheaval. Social progress can be measured exactly by the social position of the fair sex, the ugly ones included. |
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