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welcome to Crossroads chances are if you’ve been browsing social media you’ve come across advertisements for goods that are well just a little too good to be true and when you click through to those websites you find yourself in a Chinese marketplace now one of these big ones is Sheen it’s a Fashion retail retail company based in ning China the other big one is temu an online Marketplace similar to Amazon only based out of China and with most of its goods shipped directly from China to you yet now the companies are coming under scrutiny both in the United States and in the European Union and as a controversy unfolds well there’s a good chance policies could move on them in a similar way to the Tik Tock restrictions now I want to go deeper into this let me explain now temu in particular has become one of the top downloaded apps in the United States the company appeared on App Stores in 2022 and within Just 4 months it was one of the most download free apps on both the App Store and Google play but almost immediately it was running into some serious issues here’s what time had to say back in December of 2022 it said temu offers steep discounts on a slew of products mostly shipped directly from Chinese factories or warehouses in addition to incredibly low prices it said temu can no doubt attribute its popularity to its strategy of giving free stuff to users users who promote the app on their social networks and get friends and family to sign up but it adds the company the US offshoot of Chinese e-commerce giant pinoo is also starting to develop a reputation for undelivered packages mysterious charges incorrect orders and unresponsive customer service it says that temu has already been subject to more than 30 complaints to the Better Business Bureau this was two years ago and as a BB customer rating of less than 1.5 stars and time also added something important stating temo’s business model if it catches on could also have major implications for us retailers and the global supply chain in the coming year so what’s the problem well according to time the company was already running into controversies but it noted that to understand the cheap prices and well how the whole company operates it may be good to look at the chines company that it’s an offshoot of Pino both Pino and temu are subsidiaries of Pino Inc and here’s what time noted it says temo’s sister company pindo has long been accused of Hosting sales of counterfeits illegal Goods or products that do not match their descriptions notes that pinell wrote in its SEC filings that it immediately removes unauthorized products or misle leading information on its platform and freezes the accounts of sellers on the site who violate its policies and now there have been no BBB complaints that alleg the goods that temu ships are counterfeit or fake and additionally in 2021 the deaths of two tinoda employees spurred investigations and boycotts over the company’s working conditions at the time according to New York Times now remember the big issue here the United States and other countries have been sanctioning Chinese companies for issues that include State subsidized products slave labor and other issues along these lines raising concerns both of unfair Trade Practices under the Chinese Communist party and also potential human rights abuses again under the Chinese Communist party when products are shipped straight from China without any intermediaries it then usually means that the only oversight is on the CCP and decision the ccp’s authorities have to make and also whether Franklin they’d want to investigate and notably whether they’d be willing to Target what’s becoming one of the country’s biggest money makers outside of China notably at a time when the CP is facing problems of over stocking in its manufacturing meaning they don’t have it in their interest to go after these companies and if the only body looking into whether a company is using slave labor or abusing its workers is the CCP and its authorities and and nobody else can go in and properly audit them well how can you trust anything now remember beyond that there are other problems with pindo and temu and Sheen and all these companies problems related to Chinese apps in particular how they operate how the data can be gathered and so on I’ll be talking more about the slow after we get back from a quick break experts agree one of the best ways to protect against Financial uncertainty is to diversify your portfolio learn how physical gold and silver can secure your retirement funds from today’s economic challenges with a gold Ira from American Hartford goal you can Safeguard your wealth with no penalties or taxes when you transfer your current qualifying retirement accounts call now and our precious metals Specialists will send you a free information kit no cost or obligation American Hartford gold a trusted industry leader with an A+ from the Better Business Bureau has a five-star rating from thousands of happy clients whether you are getting physical precious medals in a gold Ira or delivered to your doorstep we offer only the highest quality gold and silver for your peace of mind we also offer a no fee buyback commitment a low price guarantee along with free shipping and free insurance so don’t wait call the number on your screen today and secure your financial [Music] future welcome back Chinese apps like temu and Shen are becoming some of the most popular apps in the United States but these companies are now coming under scrutiny for their business practices which could have major implications for us retailers and also for Global Supply chains now look Beyond those points though there are other problems problems relating to Chinese apps in particular you know how they operate and also the data they gather on users now you might remember with the recent us restrictions on Tik Tok a big part of the concern raised by us Regulators was that the CCP may be able to gather data on users from those apps and now temu in particular is also being accused of this in fact some of the key issues as well on this in fact Arkansas attorney general Tim Griffin has filed a lawsuit against temu and he’s warning Americans that the temu Marketplace app is effectively a Data Theft business watch teu is not an online Marketplace like Amazon or Walmart it’s a Data Theft business that sells Goods as a means to an end what Teemu is doing is selling Goods at a rock bottom price not to make a profit off of those but as a way to get into your phone your device and to collect your data not just traditional consumer data but using malware spyware to have complete access to your information and one step further their code is written in such a way to evade detection all of this against the backdrop of who owns the company who operates the company which are Chinese Communist uh official former Chinese Communist officials now here’s more on the lawsuit from The Epic Times it says the lawsuit filed against the firm’s parent company is Seeking a jury trial as well as permanent block against U’s data collection activities it also seeks a $10,000 fine for each violation of an Arkansas state law known as the deceptive Practices Act the suit primarily cites research it says from Grizzly research which analyzes publicly traded firms and alleges that temu can quote purposefully gain unrestricted access to a user’s phone operating system including but not limited to a user’s camera specific location contacts text messages documents and other applications now look temu denied the allegations and claimed the allegations in the lawsuit are based on misinformation right on their side but aside from the lawsuit the allegations of data theft and malware and the allegations of the company having for CCP officials involved there’s also the issue of Trade Practices just in general right outside of that here’s what Epic Times had to say on that point they note in its research report Grizzly research said that it suspects that temu is quote already or intends to illegally sell stolen data from Western Country consumers to sustain a business model that is otherwise doomed for failure it notes that temu is estimated to be losing $30 per order its ad spending and shipping costs 1 to two weeks from China expedited to us delivery are astronomical the report says and they add quote one is left wondering how this business could ever be profitable temu is a notoriously bad actor in its industry they say and they add that we see rampant user manipulation chain letter-like Affinity scams to drive signups and overall the most aggressive and questionable techniques to manipulate large numbers of people to install the app now that’s going to be concerning as well because these types of Trade Practices are causing problems not just for temu but also for shien and already both Chinese companies both of these they’re getting grouped together in some of the international push back the guardian says this the EU the European Union is moving forward with plans to impose customs duty on cheap Goods in a ship that could hit hit imports from online retailers and harm a hope for London listing by the fash fast fashion seller shien notes the potential change comes amid growing disqui among the retailers among retailers based in Mainland Europe the UK and the United States about Rising competition from the Chinese linked marketplaces shien and temu which they say exploit a loophole that excludes low value items from import Duty they note that in the EU the European Union the threshold for the levy don’t pay Duty on it is €50 and in the United Kingdom it’s 135 pounds enabling retailers such as shien to ship products directly from overseas to Shoppers in those markets without paying any import Duty in the UK it says items valued at 39 pounds or less also do not attract import vat meaning of course that not only this companies Gathering data on everybody not only are they selling at a loss According to some of these documents but they’re also taking advantage of trade loopholes by selling individual Goods rather than bulk directly to Consumers and again by taking advantage of these loopholes these companies doing it on such a massive scale are getting the attention of international regulatory bodies now the article notes here that subsidized packages costs in China make it more cost effective effective for businesses based there to send cheap Goods by air because they can bypass the duty fees so in other words let’s put it this way if you’ve flown in airports and so on you’ve probably seen those dutyfree shops right basically what happens you can buy products dutyfree right price is a whole lot lower than you pay at the normal markets but you can only buy stuff from them normally if you’re flying internationally and what these companies have done is found a way to basically take advantage of that loophole you get those discounts but you don’t have to fly to do it all you have to do is download an app and they use really just a loophole within the wording of the system to give you those discounts without having to go through that and it’s on this note that the European Union is considering closing off temu and Shion from using this loophole but there’s more to this as well the companies are doing so much shipping they’re doing this on such a large scale that it’s even causing problems for the industries the shipping Industries especially when it comes to air freight and because of this that could also cause some of these companies to well raise their prices the cost of shipping might go up because again they’re taking advantage of it on such a massive scale sourcing Journal notes that Air Cargo demand soared in May seeing its highest year over growth since January AS Global e-commerce giants like shien and temu both bolster Freight volumes and sparkk an industrywide battle for cargo capacity know that temu and shien combined ship around 9,000 tons of cargo worldwide every day while Alibaba another Chinese company ships 1,000 metric tons daily and Tick Tock airs 800 metric tons per day according to February research from cargox Consulting then there’s the other pesky issue of transparency in Tech rules especially when it comes to compliance for very large online Platforms in Europe one of the standards they use of course when it comes to regulation and both temu and xen are facing problems along those lines not only that in fact companies outside of China are going to have to compete with these Chinese companies and with the problems of costs they’re bringing into Global markets now I’ll be talking about this more only on Epic tv.com the uncentered streaming platform of The Epic Times so if you’re watch watching on YouTube Facebook X Rumble click the link in the description below to get access to the rest of this episode and not only we get access to my whole library of shows but also the other great shows we have as well as familyfriendly movies premium investigative reports and hard-hitting documentaries on issues that really matter in fact my documentary The Final War exposes one of the biggest threats to America the Chinese Communist Party the Chinese regime has a 100-year plan to defeat the United States and this infiltration and subversion by the CCP is one of the biggest but least understood issues that is impacting the future of this country and it’s such an important issue in fact that I’ve dedicated my career to warning people about the threat of the CCP if you like to watch this documentary you can find the link in the description below as well it’s called the final war let me show you a trailer before we go exclusively to epct tv.com and I’ll see you there the greatest threat facing the United States is the CCP The Epic Times investigation team had studied the CCP for years but what we uncovered was yielding evidence beyond our imagination with chairman M with the Prime Minister our talks have been characterized by frankness the Clinton Administration said oh don’t worry about it this will be a poison pill for China China’s strategic goal is to make sure that the US has full or enemies and one of them must be a terrorist group we are giving of our life’s blood so that the Chinese Communist Party can survive and thrive
Video Title: The Shein and Temu Problem
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Video Date: 2024-07-11 08:28:06
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