Friday , April 26 2024
Home / Mike Norman Economics / CGTN — China to restrict people with poor social credit when using trains and flights

CGTN — China to restrict people with poor social credit when using trains and flights

Summary:
Sort of like taking away one's driver's license in the US for offense like reckless driving, accumulating too many citations in a period, or driving while intoxicated. It's unclear in the US why persons are put the no-fly list since the government does not have to divulge the reason. The two statements published on NDRC's website elaborate on cases which would garner a bad rating. One statement says that restrictions on train travel apply to people who've engaged in wrongdoing, as defined by the country's railway corporation or police. Offenders could be barred from riding trains for up to a year. So far, the statement enumerates several cases that could be considered a disruption of railway transit, including smoking on trains, using expired tickets and scalping tickets.... For flight

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Sort of like taking away one's driver's license in the US for offense like reckless driving, accumulating too many citations in a period, or driving while intoxicated. It's unclear in the US why persons are put the no-fly list since the government does not have to divulge the reason.
The two statements published on NDRC's website elaborate on cases which would garner a bad rating.
One statement says that restrictions on train travel apply to people who've engaged in wrongdoing, as defined by the country's railway corporation or police. Offenders could be barred from riding trains for up to a year. So far, the statement enumerates several cases that could be considered a disruption of railway transit, including smoking on trains, using expired tickets and scalping tickets....
For flight restrictions, the development and reform authority will get negative marks and be forbidden from flying for a year if they are found inventing and spreading false information; causing disruptions during check-ins, security checks and boarding; posing threats to flight safety; or smoking....
The country's Supreme People's Court, Ministry of Finance, Ministry of Human Resources and Social Security, and Administration of Taxation and Securities Regulatory Commission also helped build the social credit system by sharing information with civil aviation and railway authorities. Consequently, those who have earned a demerit in other fields, like those who fail to pay fines or who fail to pay certain debts, may also face these restrictions….
CGTN


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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