US Blacklists 11 Companies for Uyghur Oppression, Including Suppliers for US Firms
ValueWalk's Raul Panganiban interviews Kirk Du Plessis, Founder and CEO of Option Alpha, and discuss Option Alpha and his general approach to investing. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with Option Alpha's Kirk Du Plessis
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.