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Why China's Shein is beating ASOS, H&M and Zara at fast fashion
09:54

Why China's Shein is beating ASOS, H&M and Zara at fast fashion

Chinese e-commerce company Shein took the top spot as the most downloaded app in the United States in May, according to a report from intelligence firm Marketplace Pulse. The fashion giant outperformed TikTok and Instagram on the Apple App store and was far ahead of Amazon. Since 2015, Shein has become a leader in its industry, initiating a new era of fashion experts call “real-time retail.” “What Shein has done is, it has established a new norm, which is real time,” Allison Malmsten of Daxue Consulting told CNBC in an interview. “It is very fast, and the products are updated much more frequently and at a higher volume than any other fast fashion brand.” But its name has also been marred by trademark infringement allegations and questions about the sustainability of its manufacturing process — controversies some experts say could threaten the startup’s investment prospects. “If it wants to IPO and if it wants to gather investments, then it really has to come clear and people really need to have peace of mind about what is happening at the company,” Malmsten said. Watch the video above to learn more about Shein’s rise, successes and challenges. ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Twitter: https://twitter.com/CNBCi try on haul boohoo haul zara haul zaful haul
'Quiet quitting' was happening in China before the rest of the world caught on
09:16

'Quiet quitting' was happening in China before the rest of the world caught on

You may have heard about "quiet quitting" this summer. The term, which means doing what's required at work and no more, went viral on the TikTok app after a New York software engineer posted a video on the trend. Yet the rejection of hustle culture started in China long before it was popularized in the West. "I talk with my friends, and they often use that term like 'tang ping,' I really want to lie down and I don't want to do my job and don't want to achieve something," said Dian Gu, who works as a content specialist for an internet company in China. Since 2021, the internet in China has been awash with the phrases tang ping, which means "lying flat" in Mandarin, and more recently bai lan, which means "let it rot." This has coincided with many young people in China becoming increasingly frustrated with both their personal and professional lives. Unlike most countries, China has continued to pursue a zero-Covid strategy, which requires strict and sudden lockdowns and extensive testing for cities experiencing outbreaks, confining hundreds of millions of Chinese people to their homes. As a result, the economy has slowed and unemployment is rising. The labor market has shrunk since 2019, and there is fierce competition for white-collar jobs. "We could definitely link this wave of quiet quitting and rethinking work, to an inherent lack of satisfaction with what is out there in terms of job availability," said Maria Kordowicz, an associate professor in organizational behavior at the University of Nottingham. So is China's hard-working culture about to change? Watch our video above to find out more. #CNBC #QuietQuitting #Jobs ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Twitter: https://twitter.com/CNBCi
Chinese drone maker DJI is dominating the market – despite being blacklisted by the U.S.
09:49

Chinese drone maker DJI is dominating the market – despite being blacklisted by the U.S.

Drones of several varieties have been used on the battlefield during Russia’s invasion of Ukraine, including makes from DJI. The global drone market is expected to grow from $30.6 billion in 2022 to $55.8 billion by 2030, according to a report by Drone Industry Insights. DJI dominates more than 70% of that market. DJI’s first commercially successful product was the Phantom drone, which DJI founder Frank Wang claims made DJI the first company to bring “military-grade technology” to the public. “The unfortunate thing is that (DJI drones are) very reliable. So, it’s become a product of choice, even for those who want to use a drone inappropriately,” Adam Welsh, DJI’s Head of Global Policy, told CNBC. A recent controversy around DJI products being used for warfare isn’t the only problem the company has faced. In December 2021, the Shenzhen-based drone maker was placed on an investment blacklist by the U.S. government, banning American investors from buying or selling shares in the company. That move is largely symbolic, however, since DJI is a private company. Watch the video above to understand why the Chinese drone maker is dominating the market – despite being blacklisted by the U.S. #CNBC #DJI #Drones ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Twitter: https://twitter.com/CNBCi
South Korea wants to become one of the world's biggest arms dealers
09:35

South Korea wants to become one of the world's biggest arms dealers

From 2018 to 2022, South Korea was the ninth largest weapons supplier globally, ahead of Israel, the Netherlands and Turkey. In recent years, South Korea has edged out stiff competition from Western defense manufacturers and cheaper Chinese developers with government support, attractive pricing and faster delivery times. Seoul has ambitions to be the fourth-largest weapons exporter by 2027, after the United States, Russia and France. “The government will nurture the defense industry into a state-of-the-art strategic industry that leads economic growth,” South Korean President Yoon Suk Yeol has stated. Today, the biggest South Korean defense companies include Hanwha, Korea Aerospace Industries, LIG Nex1 and Hyundai Rotem. “The Korean government is fairly supportive in approving the technology transfers and exports of some very crucial parts and technology,” Kim Dae-young, an executive vice president at Hanwha Aerospace, told CNBC. Jumong Kim, a defense analyst, noted that South Korea’s competitiveness comes from a few important and distinctive factors. “First, fast delivery timeline. Second, manufacturing efficiency and prowess. Third, strong governmental willingness to support defense contractors. Fourth, high demands of defense products because of confrontational situation vis-a-vis North Korea and China in the region,” he said. Oskar Pietrewicz, a defense analyst from Poland, said that the needs of the South Korean military also ensures that its defense industry maintains a high production capacity. “Korea has lots of weapons and has the potential to deliver them very quickly,” Pietrewicz noted. But are these factors enough for South Korea to become one of the world’s biggest arms dealers? Watch the video to find out. #CNBC #SouthKorea #MilitarySpending #Defense #BusinessNews ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci
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