China’s consumer market is set to reach $13 trillion by 2030 per Morgan Stanley. Foreign companies hoping to sell into it have always had to worry about boycott threats. Swedish fast-fashion chain H&M
experienced a 28% fall in second-quarter sales from a year earlier after it was attacked for expressing concerns about allegations of forced labour in the cotton-growing region of Xinjiang. A diplomatic spat with South Korea resulted in a backlash that drove supermarket Lotte Mart from China. Beijing organises some of the squeezing as a form of economic coercion, but the sentiment is real. The Xinjiang controversy, for example, may have helped pump up sales at domestic sportwear makers Anta Sports Products
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