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Fast Retailing CEO Tadashi Yanai confirmed that Uniqlo does not source cotton from China's Xinjiang region, amid allegations of forced labor. His comments have sparked significant backlash on Chinese social media, leading to calls for a boycott that could threaten Uniqlo's substantial market presence in China, which accounts for over 20% of its revenue.
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Recent discussions at the Beijing-Tokyo Forum highlight the deteriorating relations between China and Japan, marked by mutual distrust and historical grievances. Former Japanese Prime Minister Yasuo Fukuda emphasized the need for dialogue and cooperation amid rising geopolitical tensions, particularly regarding Taiwan and trade issues.
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U.S. Defense Secretary Lloyd Austin's recent visit to Japan emphasized the strengthening of military ties amid rising regional tensions from China and North Korea. Austin's discussions focused on defense cooperation and reaffirming the U.S. commitment to Japan's security, particularly in light of the upcoming Trump administration's policies.
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Lululemon's third-quarter earnings reveal a 33% increase in international sales, driven by a 39% surge in China. However, North American sales remain stagnant, raising concerns about competition and market dynamics. The company plans to expand its store presence, particularly in China and Europe.