H&M and Nike are facing a boycott in China over Xinjiang cotton statements
Hong KongCNN Business — H&M, Nike and other big Western apparel brands are facing a boycott in China because of the stand they’ve taken against the alleged use of forced labor to produce cotton in the country’s western region of Xinjiang.
H&M and Nike (NKE) said months ago they were concerned about allegations forced labor has been used to produce cotton in Xinjiang, but they’ve now been caught in an escalating firestorm that has erupted on Chinese social media this week.
Swedish multinational H&M, the world’s second-largest clothing retailer, has been pulled from major e-commerce stores in China and blocked by several major navigation, review and rating apps. Videos are circulating on social media that a shopping mall in Chengdu, Sichuan province has removed H&M’s advertising sign outside the mall.
Letter from Keith Krach to Business Leaders on Xinjiang Supply Chain Business Advisory
It is critical that U.S. companies and individuals be aware of the large-scale human rights abuses perpetrated by the PRC government in Xinjiang. Businesses should evaluate their exposure to the risks that result from partnering with, investing in, and otherwise providing support to companies that operate in or are linked to Xinjiang.
Can China Form its Own Alliance? — Simone Gao with Keith Krach
G7 adopted the U.S.-led proposal BuildBackBetter World as an alternative to China’s Belt and Road Initiative. But can it compete with China’s investment? KeithKrach was the under secretary of state responsible for economic diplomacy during the #Trump administration. The Blue Dot network his team drafted was adopted by the Biden Administration and is now the Build Back Better World initiative. This Silicon Valley veteran has a good track record of defeating China’s economic aggression, particularly Huawei’s ambition to take over the global 5G communications.