Huh? Isn't Crimea under Russian control?Double slap on the face of China then. Imagine sending a delegation for business when Ukraine nationalises Chinese Investment.
Oops mistake with my geography knowledge. Gottan edit now..Huh? Isn't Crimea under Russian control?
I can see H&M sales had sales of $1.2 Billion in China for 2019.
A few years back, we saw Dolce and Gabbana insult Chinese people on Instagram.
Their sales crashed 98% in China and there were videos of their very expensive products being burned on the streets by their owners.
We've also seen consumer boycotts of Japanese and Korean products previously.
Suppose a boycott spreads to German automakers or the luxury fashion groups from France and Italy?
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Personally, I think there is too much mindless materialism where more spending is equated with being better.
Seriously, is there any practical difference between a $200 bag and a bag which costs 10x as much?
So I reckon lower spending on luxury goods and increased spending elsewhere would be a good thing for Chinese society.
Ouch that will hurt H&M, and its fully deserved. In this world where Chinese companies get so much stick for just being Chinese. Any foreign company cannot get away with earning big bucks in China while undermining China at the same time. Whether H&M likes or dislikes the Chinese government, they should have just learnt to STFU on any sensitive topics in China. The other big foreign companies in China are doing just that, and they are doing fine. It seems like they have learned nothing from what happened to D&G and Houston Rockets.I can see H&M sales had sales of $1.2 Billion in China for 2019.
A few years back, we saw Dolce and Gabbana insult Chinese people on Instagram.
Their sales crashed 98% in China and there were videos of their very expensive products being burned on the streets by their owners.
We've also seen consumer boycotts of Japanese and Korean products previously.
Suppose a boycott spreads to German automakers or the luxury fashion groups from France and Italy?
Yes, I think patriotism needs to be emphasized in China to reign in excessive materialism. Materialism after all, is an unshakable part of Chinese culture. Xi Jinping have said that the CPC wants to build a 'moderately prosperous society'. Not an excessively prosperous society. China must try to steer its society away from grotesque wealth worshipping that we see in practically all societies in the 'free world'. Materialism, and ambition can be tolerated as long as it stays in line. But once it crosses into greed and excess, it becomes dangerous. As we can see with the moral corruption happening in the West.Personally, I think there is too much mindless materialism where more spending is equated with being better.
Seriously, is there any practical difference between a $200 bag and a bag which costs 10x as much?
So I reckon lower spending on luxury goods and increased spending elsewhere would be a good thing for Chinese society.
LOL.. WTH? Then H&M has two tough choices:Apparently H&M isn't even doing this out of pressure from EU government. One of the execs saw Xinjiang related news and is doing this out of the "goodness" of his or her heart.
US close-in reconnaissance on China hits new record amid PLA live-fire exercises (2021-03-23)
How true is this? I find it hard to believe since the Taiwan Straits is heavily patrolled by the PLAAF and the PLAN. Chinese jets would surely be able to pickup and buzz that US plane off. Plus the Chinese Foreign Ministry would surely be making lots of noises over this.