Fast fashion’s new superpower: Shein
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 13 December 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/99bcfb02-6de4-4658-9d7f-c210db884fdf
The cost of flying cargo around the world has reached record levels, and workers are demanding that gig economy companies explain their algorithms. Plus, the FT’s retail correspondent, Jonathan Eley, explains how the Chinese company Shein became one of the world’s biggest fast fashion companies and recently surpassed Zara to become the top fast fashion brand in the U.S.
Air freight costs soar to record high
https://www.ft.com/content/15b44fc9-5f86-4b28-ae05-a3233db13977
Workers demand gig economy companies explain their algorithms - with Madhumita Murgia
https://www.ft.com/content/95e7f150-b0f9-4602-8e5d-76a138b59851
Shein: the Chinese company storming the world of fast fashion - with Jonathan Eley
https://www.ft.com/content/ed0c9a35-7616-4b02-ac59-aac0ac154324
Widening CEO-employee pay gap challenges ‘stakeholder capitalism’
https://www.ft.com/content/7c9be0d8-d75b-45f3-8602-932ac25652b1
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann and Michael Bruning. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.6 | Today is Monday, December 13th. |
| 0:03.6 | And this is your FT News Briefing. |
| 0:08.5 | The cost of shipping things by air has soared to record levels. |
| 0:12.3 | It's bad timing. |
| 0:13.2 | Companies are dealing with a lot of holiday demand. |
| 0:16.4 | And some gig workers have been mistakenly accused of fraud |
| 0:19.8 | and even banned from the apps they work on. |
| 0:22.3 | But it's hard to fight back when your boss is an algorithm. |
| 0:26.3 | So this isn't, you know, let's look at gig work |
| 0:28.8 | and solve this problem. |
| 0:29.8 | And this is the start of a sort of algorithm boss relationship |
| 0:33.8 | that employees are going to have across many, many different sectors. |
| 0:38.3 | Plus there's a brand ripping up the world of fast fashion |
| 0:42.3 | or retail correspondent Jonathan Ealy dives into the world of she and |
| 0:47.1 | Mark Filipino. |
| 0:48.0 | And here's the news you need to start your day. |
| 0:52.8 | Flying cargo around the world now costs more than ever. |
| 0:56.8 | Over the past three months prices have nearly doubled on key |
| 0:59.8 | air freight routes linking China to consumer markets in the US and |
| 1:03.3 | Europe. |
| 1:04.3 | And it's not just the typical surge in demand that comes when |
... |
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