How China’s Corporate Social Credit System Works

The video discusses the impact of new regulations on businesses, focusing on the Chinese economy's compliance and the introduction of a new business credit system. It highlights the uncertainties and costs associated with these changes, the ethical questions raised by personnel ratings, and the challenges of data transfers and supply chain audits. The video also evaluates the preparedness of European businesses, particularly German companies, for these new obligations.

What are the potential long-term effects of the new compliance system on the Chinese economy?

How does the new credit system differ from traditional personal credit systems?

What ethical questions might arise for European companies operating in China under the new system?

What responsibilities will the leadership of entities in China have regarding compliance?

How might the interconnectedness of companies affect their compliance ratings?

In what ways are European businesses currently unprepared for the new compliance requirements?

What steps can European companies take to prepare for the upcoming changes in the compliance landscape?