A major American brand’s refusal to do business in a Chinese region known for slave labor is drawing retaliation from Beijing.
Under U.S. federal law, PVH — an American company with brands including Calvin Klein and Tommy Hilfiger in its portfolio — cannot do business in the Xinjiang province of China, as the region is infamous for slave labor, internment camps for religious minorities and various human rights abuses. The U.S. law applies to all American companies, but China has opened an investigation into PVH that has raised concerns Beijing intends to retaliate against foreign firms who won’t do business in Xinjiang, according to The New York Times.
“Since this investigation is the first of its kind, companies in all sectors have been forced to reassess what it means for them,” Sean Stein, the chairman of the American Chamber of Commerce in China, told the Times. “Many are seeing higher risk.”
The Chinese Ministry of Commerce said last week that it had opened an investigation into PVH over allegations that the company was taking “discriminatory measures” against products made in Xinjiang, the Times reported. In Beijing’s view, Xinjiang is crucial to domestic and foreign business; roughly 85% of China’s cotton is produced in Xinjiang, and other products such as batteries, solar parts and textiles are developed in the province as well, according to the Department of Labor. […]
— Read More: dailycallernewsfoundation.org
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
Important: Our sponsors at Jase are now offering emergency preparedness subscription medications on top of the long-term storage antibiotics they offer. Use promo code “Rucker10” at checkout!
