People walk past an store in a shopping area in Beijing, China, March 28 2021. Picture: REUTERS/THOMAS PETER
Shares of H&M, Nike and others plummeted as Chinese government officials endorsed the boycotts and celebrities cut ties with brands including Adidas, New Balance and Japan’s Uniqlo. Chinese apparel makers have seized the opportunity with statements supporting cotton made from Xinjiang, boosting local companies from sportswear maker Anta Sports Products to leisurewear brands including Zhejiang Semir Garment.
That raises the prospect that foreign companies operating in China across a range of industries could find themselves in the geopolitical firing line, facing pressure from Beijing to keep quiet on human rights just as global investors put more weight on environmental, social and governance issues. In addition to hitting the EU and UK with retaliatory sanctions over Xinjiang, a move that threatens to scuttle an investment deal between China and the 27-member bloc, Chinese officials hammered the West this week for a laundry list of failings from Nazism and colonialism in Europe to Japan’s invasions and the US war in Iraq. China also published its 22nd annual report critical of how the US handles human rights, prominently featuring George Floyd’s dying plea “I can’t breathe”.
The more aggressive rhetoric, he added, is part of a strategy to “build acceptance for the view that democracy is not a universal ideology and does not hold answers for challenges of the 21st century”. At a H&M store in Shanghai on Friday, a security guard noticed a drop in foot traffic over the past few days while expressing worries of possible “irrational behaviour” by some customers. While H&M has not commented over the uproar, on Friday a statement on forced labour in Xinjiang was no longer accessible on its website. Similarly, a statement by Zara parent Industria de Diseno Textil saying it had “zero tolerance” regarding forced labour in Xinjiang also appeared to be taken down.
I’m back with smile on my face again thanks to marksust6 I don’t know what to say I was skeptical but I am proud to let the world know that you’re the reason behind my successful trades life!!🙏🙏🙏🙏 God bless you for your good work
A manager with so much ambition goals towards his clients, a man with love and respect for other people, you're magnificent when it comes to investment and l thank you so much for changing my life to better CLAWLEACH0
Do something today that your future self will thank you for!...stay positive so we get started and actualize best result on this...I know you will thank me later for this opportunity.💫💐 invest with Jasonsallm_1
Ukukhetha okuhle engikwenzile kulo nyaka bekukutshala imali ku-cryptocurrency nokuhweba nge-forex nokuhola ekhaya. Ngosizo luka Jasonsallm_1 Kade ngithola ama- $ 23k masonto onke angikaze ngizisole ngalesi sinqumo. 🙏🏻🙏🏻
Thank God for bringing bitcoin to man,it has being a great source of blessing to all of man kind who have passion for bitcoin trading. Now the poor are getting rich over night and the rich getting richer. SamuelEddy_4 vthank you for your proper management .