Other Western brands such as Nike, Adidas, H&M are facing backlash from China
Burberry (LON: BRBY) has received backlash from China over a conflict over the new jiang Uyghur Muslim human rights violations.
Chinese actress Zhou Zhou said that while the fashion brand’s famous tartan designs have been removed from the popular video game, the company “didn’t state its stance on cotton from Xinjiang clearly and publicly, I have ended my contract as Burberry Ambassador.
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Burberry, a member of The Better Cotton Initiative, said in October it had stopped approving cotton supplied by Shinjiang for concerns over human rights abuses.
The luxury fashion brand’s stock price fell 1.84% on Friday as its long-term outlook is under threat.
Burberry isn’t the only one. Nike, H&M and Adidas also face the possibility of boycotts as they have expressed concerns about the use of forced labour in producing cotton at New Jiang.
Although the relationship between China and some of the more established US brands is very large, Elon Musk has been working to secure Tesla’s market position in the long term, and has been working to ensure that Tesla has a market position in the world. It seemed to be curry favorably.
“I am extremely confident in Tesla’s future in China,” Musk told CCTV in an interview. “I think China’s economy will be able to do very well over the next 10 years and become the largest economy in the world. We are also working on a sustainable energy future,” he added.
The Tesla chief also stoked praise for the Chinese government’s economically dominated plans for the coming years and its climate targets.
Xi Jinping said last year that China will achieve carbon neutrality by 2060.
According to recent filings, China is Tesla’s second largest market after the US, accounting for 20% of the company’s revenue.
