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French lawmakers vote to slow down fast fashion with penalties
(www.france24.com)
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this post was submitted on 15 Mar 2024
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European countries may not be perfect, but they do seem to have working governments that produce legislation not 110% beholden to economic interest of corporations
France has a massive Fashion industry with Bernard Arnault competing for the richest person on the planet position. But even a brand like Kenzo is far from being fash fashion (Just checked on Zalando, kids T-shirt at 100 EUR, no wonder why the owner is so rich) so it's not hindering the biggest French corpo.
I see... Always a dark side to all stories, eh?
I guess we can only hope that government get something right while they go on their normal business of being in corporation's pockets
Bernard Arnault is lobbying against this law, because his companies make a lot of money in the Asian market, especially in China, and he fears repercussions from the Chinese government and a tariff war.
There's a lot of protectionism though.
Like this will drive higher inflation.
Inflation does not seem worse over there than in "free for all"© capitalism in the USA
PS: to be fair, USA is very protectionist as well, it's just they only protect the 1%
A tax like this will make the prices of some goods go up. Such price increases are measured as inflation.
This is a highly regressive tax. It's 50% on certain items below 5 EUR (soon 10) and less for items above that. Over the price, the rate goes down. For items at 50 EUR (100 EUR), it is only 10%.
Making cheap clothing in particular more expensive doesn't sound much like looking out for the 99%.
Well none of the measures to curve rampant consumism lead to cheaper prices
I was happy to hear the side of slowing down "fast fashion" because it is Hot garbage
But you are right, there are more aspects to this issue
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I'm having good laugh watching Americans call everyone protectionism but passing a law to force foreign company to sell their social media to an US company.
I'm not American. And yeah it's a shame to see the US abandoning free markets and freedom.
Did they ever have those?
This is France protecting the 1%.