US Blacklists 11 Companies for Uyghur Oppression, Including Suppliers for US Firms
Seth Klarman Tells His Investors: Central Banks Are Treating Investors Like “Foolish Children”
"Surreal doesn't even begin to describe this moment," Seth Klarman noted in his second-quarter letter to the Baupost Group investors. Commenting on the market developments over the past six months, the value investor stated that events, which would typically occur over an extended time frame, had been compressed into just a few months. He noted Read More
The U.S. Sanctions Chinese Firms For Uyghur Oppression
WASHINGTON: July 23, 2020 - The US slapped sanctions on 11 Chinese firms and some suppliers for US firms, on Monday, over their use of forced labor and other forms of repression against the Uyghur Muslims in China.
"Beijing actively promotes the reprehensible practice of forced labor and abusive DNA collection," said Commerce Secretary Wilbur Ross.
The Commerce Department announced that those firms would be put on the "Entity List," an index of companies that are believed to be engaged in "activities contrary to the national security or foreign policy interests of the United States."
Contentious Labor Program
A NY Times video investigation published on Sunday identified Chinese companies using a contentious labor program for Uyghurs to satisfy the demand for P.P.E., some of which ended up in the US and other countries.
Recently, the NY Times reported that the East Turkistan Government in Exile and the East Turkistan National Awakening Movement filed a complaint urging the International Criminal Court to investigate and prosecute China's officials for Genocide and Crimes Against Humanity against Uyghurs and other Turkic peoples in Occupied East Turkistan (renamed Xinjiang).
BBC Video: The UK accuses China of 'gross' human rights abuses against Uyghur Muslims
What do you think about the issue? Why are celebrities taking up the latest chic causes domestically, totally silent on mass scale genocide in a place many do a lot of business?
Tell us in the comments below.