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Call for a boycott
On March 29, Xinjiang government spokesman Tu Quy Tuong warned Western companies not to get involved in the aforementioned growing tensions, pointing to Swedish fashion brand H&M. “I don’t think a company needs to politicize its economic behavior. Will H&M continue to make money in the Chinese market? Not anymore, “Mr. Tu emphasized, according to Radio Al Jazeera.
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H&M, Nike and Adidas “fight” in China over Xinjiang problem |
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Before the wave of boycotts in China, Nike shares fell more than 3% on March 25, Adidas shares fell more than 6% and H & M’s similar figure was almost 2%. Meanwhile, the share price of China’s Anta Sports Products Company rose 6% after the company announced that it would continue to use cotton from Xinjiang. Cotton produced in Xinjiang accounts for about 87% of China’s total production or one-fifth of total world production, according to Xinhua.
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Earlier, on March 24, the Chinese Communist Youth League launched an attack on H&M, drawing attention to the company’s statement reported by the media last year. In that statement, H&M expressed deep concern about the alleged forced labor in Xinjiang and said it would not accept cotton products produced in the region. The statement sparked outrage on social media in China and many netizens called for a boycott of H&M and many other Western brands, according to CNN. On the morning of March 25, searches of the H&M store on the Baidu map did not return any results. Chinese e-commerce companies such as Alibaba (BABA) and JD.com (JD) remove all H&M products.
On March 29, another Xinjiang government spokesman confirmed that the Chinese do not want to use the products of Xinjiang cotton boycott companies such as H&M and Nike. At least six H&M stores have been closed in Urumqi, the capital of Xinjiang, and in several other Chinese cities, according to Bloomberg.
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The US still has to ‘trade with China’, Boeing recalled |
Signs of concessions?
Beijing often uses the “problem map” to refer to a map that China considers to have an element that “undermines the sovereignty, territory, security and interests” of the country. China unilaterally announced that the cow’s tongue line will swallow most of the South China Sea. Although the U-shaped line has been repeatedly condemned and denied by the 2016 International Court of Arbitration ruling, Beijing still uses the trick of installing an illegal map of yellow dock through a series of publications: scientific products, merchandise, mobile devices and even children’s toys.
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How does H&M Vietnam work in the middle of a boycott? |
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