Shein, the Chinese fashion company that has become a global giant in just over five years, has been shrouded in controversy surrounding its working conditions. An investigation by BBC found that workers at one of the factory’s facilities are sitting behind sewing machines for around 75 hours a week, contravening Chinese labour laws.
This is not an unusual practice in Guangzhou, an industrial hub known for attracting rural workers seeking higher incomes. However, it raises questions about Shein’s success and its commitment to fair labor practices.
Meanwhile, experts have been critiquing the effectiveness of Wall Street analysts’ forecasts, with minimal correlation between their predictions and market returns over the past 20 years. This phenomenon is likened to phrenology, a pseudoscientific practice that claimed to predict personality traits based on skull bumps.
Additionally, fake job postings have become a growing problem, with one in five jobs advertised being either fake or not filled. The issue of price-fixing has also been raised, as MultiPlan, a healthcare cost-cruncher, is accused of suppressing competition through algorithmic means.
The Trump administration is also stocking its team with billionaires, citing loyalty and a desire to shake up agencies they are about to lead. However, this move has sparked concerns about the influence of wealth in Washington.
Fake news has been identified as a major contributor to social divisions, while efforts to eradicate it may inadvertently worsen the problem. The US healthcare system’s reliance on deductibles, copays, and premiums has led to widespread inefficiencies, with one key reform potentially offering a solution.
Furthermore, thousands of apps are being used to spy on users’ locations without their knowledge or consent. Climate change is also exacerbating disasters worldwide, with extreme weather events becoming more frequent due to rising global temperatures.
A new DC think tank has been staffed entirely by robots, which has sparked curiosity about its activities and agenda. The year 2024 was recorded as the warmest on record globally, according to NASA.
Stay tuned for our upcoming interview with Jonathan Clements, a renowned personal finance reporter who shares his insights on money, life satisfaction, and planning.
Source: https://ritholtz.com/2025/01/sunday-reads-402