China is extending its social credit scoring system that has been used on individuals to foreign corporations now, creating new risks and possibly leading to further decoupling.
China's Sesame Credit system of scoring Chinese citizens on a code of personal conduct moves up a notch as foreign corporations begin to fall under a similar system.
Foreign companies are being advised to reevaluate their data collection processes in light of this new action. The effect could be a further decoupling of US-China tech and trade activities. The new cybersecurity laws give the Chinese government access to files, contracts, copyrights, business strategies and phone records with no permission asked, according to Jacobson. But starting in 2020, China is demanding that businesses collect and feed internal information into a centralized data system. The data will be used to quantify the moral codes of corporations, and the individuals that run them, and reward or punish accordingly.
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