What information source(s) do you recommend for having a pulse on this?
China would love to have our credit ratings system - but I suspect that they don't fully have the financial transaction transparency and society-wide buy-in just yet to be able to really make it work. I'm sure they'll get there eventually, but for now, they still have a large enough 'alternative' economy/non-regulated transactions and exchange that would both allow people to escape the scrutiny of a more official credit ratings system and these unregulated economic channels would likely grow larger due to people's displeasure and avoidance of the ever increasing authoritarian reach. Social credit introduces this concept using data and tools they have available, and eases this into daily life with less existentially disrupting capability - at least for now.