Study Of The United States' Social Credit System

In the modern market economy system, credit and the order of credit is one of the foundations of socio-economic operation as well as an important guarantee for economic exchanges. In today's world, U.S.A is one of the countries who have the largest credit economy, the most developed credit management industry, the most perfect social credit system. In the long evolution of the market, America's social credit system has accumulated both many successful experiences and some failures of course. The study of the history of American social credit system trajectory, mode selection, the system environment and operating mechanism is very meaningful and of great important reference value and reference to further strengthen the construction of social credit system in China.The thesis is composed of 7 chapters, the main contents of each chapter are summarized as follows:The first chapter introduction is designed to lay the foundation for the commencement of the study. This chapter introduces the background of this study and the corresponding research questions, gives evaluation of the social credit system in the U.S. research situation, and forms the overall framework of the thesis by illustrating its logical framework, research methods and chapters arrangement. Final part of this chapter is the innovation of this study and limitations.The 2nd chapter analyzes the social credit system in general. The definition of credit, the concept of social credit system, Summarization of the main elements of the social credit system is given in this chapter. There are three main social credit system development models, such as United States is the representative of the private credit system model, Germany is on behalf of the public credit system model and Japan is the representative of the mixed credit system model. Based on this information, the paper presents empirical analysis of the country's institutional environment's impact to mode selection. Institutional environment consists of economic environment, financial environment and legal environment.The 3rd chapter reviews the theory of social credit system. This chapter combed four aspects: First, the integrity of traditional Chinese culture, ideology; Second, Marx's theory of the credit system. Marx's study of credit and credit system points out the nature of credit, and links it with the evolution of monetary and capital closely, provides a theoretical basis for contemporary credit system to adjust to the social resources and social aspects in the production of smooth realization, and has laid a theoretical foundation for the establishment of the credit system; Third, the credit system of modern Western economics theory. The theory consists of credit media theory, credit creation theory and credit regulation theory; Fourth, the credit system of modern Western economics theory which is composed of institutional economics, information economy, game theory and credit, etc.The 4th chapter is the establishment and development of United States'social credit system. This chapter studies the evolution of the United States'social credit system from the vertical perspective of history which experienced period of free competition capitalism, private monopoly period and the period of state monopoly capitalism post-war. It provides further proof that a country's social credit system, which is an integral part of the social system and must adapt to the system environment of a country, is a product of the country at a certain historical stage.The 5th chapter is analysis of the contents and characteristics of American social credit system. U.S.A is one of the countries who have the largest credit economy, the most developed credit management industry, the most perfect social credit system. It's social credit system consist primarily of credit system, credit service system, credit system and credit protection monitoring and support systems which is characterized mainly as follows: disclosure of legal protection mechanisms; the conscious and extensive use of credit ratings and credit product; mechanism for protecting the legal rights of consumers; the market-oriented operational mode of credit services; the strong sense of the credit market players which promotes the development of credit management system.The 6th chapter is the comparative analysis of the social credit system model between United States, Germany and Japan. There are three main institutional arrangements for different development models of social credit system in today's world, United States is the representative of the private credit system model, Germany is on behalf of the public credit system model and Japan is the representative of the mixed credit system model. By the comparison with Germany and Japan model, the characteristics, advantages and disadvantages of American model of social credit system can be identified. Through the comparative analysis of the three countries, their personality, character and regularity can be identified.The 7^th chapter is the enlightenment from American social credit system to China. We should learn from the American experience and lesson, provide a reference to further strengthen China's social credit system from reality. This chapter first reviews the emergence and development process of China's social credit system; Secondly, the chapter points out the main problems in the current social credit system construction, and emphasizes the necessity to further strengthen the economic environment, financial environment and the legal environment; Finally, the chapter put forward policy recommendations for China's social credit system development model.